Income from house property

What is society Maintenance?

Except Society Maintenance....

IFHP = A - B = 173500 * 30% = 52050 - 173500 = 121450

Society Maintenance is the amount which we need to pay to the society (apartments).

Thank you for your answer.

You are welcome... ...

The following is method by which you determine the income from house property ( for let out property)

GAV ***
(-) municipal taxes. (***)
NAV. ***
less deductions u/s 24
24(a) standard deduction of 30%. (***)
24(b) interest on housing loan. (***)
income from house property. ***

to determine GAV

(a)fair rent ***
(b)municipal valuation. ***

whichever is higher ***
(c) standard rent. ***

whichever is lower. ***
(d) annual rent /actual rent. ***

whichever is higher. ***(GAV)