Regarding House property

For rented house:

Step 1 : Compute Higher of Fair value of property and Municipal value subject to lower of Standard Rent.
Step 2 : Ascertain gross value.
Less : Municipal tax paid
= Net annual value
Less : Standard Deduction u/s 24(a) @ 30% on NAV
Less : Interest on loan u/s 24(b) {if there is loan thaken for property}
= Income from house property.

For self occupied house:
NAV should be NIL
Less : interest on loan u/s 24(b)

Self occupied property, value taxable is nil. For vacant property , another SOP , value taxable is nil. Rent if Industrial property taxable under IFHP.