Interest on housing loan for partly self occupied partly let

Hello.

We have a Joint loan on a housing property, which has two floors. One floor is let out for rent of Rs 5000 / mont. One floor is occupied by us. Now the interest component on the housing loan for a year works out to be Rs 500000. Do we consider this has a self occupied property (Rs 150000 loss from prperty) or let out property, if we consider it as a let out property how is the loss of income from property calculated, so  that we can avail the tax benfits. .

Thanks in advance  for any sugestions.