Section 24 Property Tax
Income from House Property Calculator
Compute your net taxable rental income or loss from house property under Sections 22 through 27 of the Income Tax Act. Factors in municipal taxes, the statutory 30% standard deduction, and home loan interest caps.
Property Particulars Section 24
Set to ₹0 automatically for self-occupied properties.
*Deductible only if paid by the owner (not tenant) during the financial year.
Capped at ₹2,00,000 for self-occupied property. No upper cap for let-out property.
Net Income / Loss Summary
Net Income / (Loss) from House Property
₹ 61,500
Net Annual Value (NAV):
Standard Deduction u/s 24(a) (30% of NAV):
₹ 1,03,500
Allowed Loan Interest u/s 24(b):
₹ 1,80,000
Statutory Computation Mechanism
Gross Annual Value (GAV) [Rent Received / Reasonable Market Rent]
Less: Municipal Taxes paid by owner during the year
= Net Annual Value (NAV)
Less: Statutory 30% Standard Deduction u/s 24(a) [Repairs & Maintenance]
Less: Interest on Borrowed Capital u/s 24(b) [Capped at ₹2,00,000 for self-occupied]
= Net Income / (Loss) from House Property
Less: Municipal Taxes paid by owner during the year
= Net Annual Value (NAV)
Less: Statutory 30% Standard Deduction u/s 24(a) [Repairs & Maintenance]
Less: Interest on Borrowed Capital u/s 24(b) [Capped at ₹2,00,000 for self-occupied]
= Net Income / (Loss) from House Property