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Query regarding hp
Calculation of Income from House Property
A.Rent Received :52000*12 = 624000
B.Less: Tax Paid = 5000
C.Less:Standard Deduction = 30%(A-B) = 185700
D.Less:Interest on Borrowed Amount = 168000
Income from House Property = 265300
Ooh Sorry for that I didnt saw that fact
Calculation of Income from House Property
A.Rent Received :52000
B.Less: Tax Paid :5000
C.Less:Standard Deduction = 30%(A-B) = 14100
D.Less:Interest on Borrowed Amount = 168000
Loss under the head House Property = 135100
Interest on borrowing cannot exceed Rs. 150,000/-
My mistake. Kuldeep is right.
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