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(Querist)
18 August 2012
my freind from uttarakhand ( kashipur)
Income from House Property Calculation
COMPUTATION OF INCOME FROM LET OUT HOUSE PROPERTY
Gross Annual Value xxxxxxx
Less: Municipal Taxes xxxxxxx
Net Annual Value xxxxxxx
Less: Deductions under Section 24
- Statutory Deduction (30% of NAV) xxxxxxx
- Interest on Borrowed Capital xxxxxxx
Income From House Property xxxxxx
My emi is 30000 (25000+5000) plz fill my calculation.
Income from House Property Calculation
COMPUTATION OF INCOME FROM LET OUT HOUSE PROPERTY
Gross Annual Value xxxxxxx
Less: Municipal Taxes xxxxxxx
Net Annual Value xxxxxxx
Less: Deductions under Section 24
- Statutory Deduction (30% of NAV) xxxxxxx
- Interest on Borrowed Capital xxxxxxx
Income From House Property xxxxxx
My emi is 30000 (25000+5000) plz fill my calculation.
19 August 2012
if 25000 is principal and 5000 is interest then
Interest on Borrowed Capital 5000*12 = 60000
deduction under H/P (u/s. 24) shall be claimed
25000*12= 300000 if house is given on rent if self occupied the 100000 shall be claimed as principal repayment u/s. 80c
Interest on Borrowed Capital 5000*12 = 60000
deduction under H/P (u/s. 24) shall be claimed
25000*12= 300000 if house is given on rent if self occupied the 100000 shall be claimed as principal repayment u/s. 80c
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