Calculation purposes

1. What is the status of house property — let out or self-occupied?

2. Who is paying instalments of loan and in how much proportion?

1) self occupied

2) entire monthly loan dues paid by Mr A

So in such a case what is the Taxable income of Mr A ?

7 lakh

1) Are Gratuity,Reimbursement of hospitalization expenses received from employer 2- 25 lakh not taken for income calculation ?

2) Is it 7 or 7.5 lacs ?

salary from employer 1 (govt)-4 lakhs
el encashment from employer 1-50000
salary from employer 2 (non govt)-7 lakhs
Gross Total Income=11.5 lakhs

Deductions

Standard Deduction 50000
80 C 1.5 Lakhs
Joint home loan- interest  is 2 lacs

Taxable income=11.5 lakhs minus 4 lakhs =7.5 lakhs

Please clarify 

Home ownership Share - 60% Mr A and the remaining share pertains to his spouse
Joint Loan Share -40% Mr A and the remaining share pertains to his spouse --------------------------------- how can ownership and loan share be different. They have to be same. 

Originally posted by : ntc pioneer
	1) Are Gratuity,Reimbursement of hospitalization expenses received from employer 2- 25 lakh not taken for income calculation ? 2) Is it 7 or 7.5 lacs ? salary from employer 1 (govt)-4 lakhs el encashment from employer 1-50000 salary from employer 2 (non govt)-7 lakhs Gross Total Income=11.5 lakhs Deductions Standard Deduction 50000 80 C 1.5 Lakhs Joint home loan- interest  is 2 lacs Taxable income=11.5 lakhs minus 4 lakhs =7.5 lakhs

Gratuity, Medical reimbursements, EL encashment - not taxable.

Please ask your doubts here. All experts here to help eachother. But in your case, please visit your tax accountant or Chartered accountant office. Discuss with them and prepare your computation. 

If you do self income tax declaration, gather knowledge from here. Sometimes, you may give wrong declaration. Please contact and ask anyone of experts here to prepare your computation.  They will help you.