I have home loan interest payment 4,00,000/-.
Also I receive rent income of 10,000/- monthly.
so I will calculate.
interest amount will be taken 2,00,000/- or 4,00,000/-
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Income from house property.
Replies (4)
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Rs. 2lakhs...
Can you explain your query again with details of house property...!
Can you explain your query again with details of house property...!
Interest on home loan : 4,00,000/-,
Rent received on above home : 1,20,000/-
Municipal taxes: 12,000/-,
for the F.Y. 2017-18.
Rent received on above home : 1,20,000/-
Municipal taxes: 12,000/-,
for the F.Y. 2017-18.
gross annual value - 120000
less municipal taxes - 12000
net annual value - 108000
less standard deduction - 36000
less interest on borrowed capital - 272000
loss from house property - 200000 (can be set off against other sources of income)
balance loss to be carried forward - 138000
less municipal taxes - 12000
net annual value - 108000
less standard deduction - 36000
less interest on borrowed capital - 272000
loss from house property - 200000 (can be set off against other sources of income)
balance loss to be carried forward - 138000
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