Income chargeable to tax under the head "Income from house property" in the case of a let-out property is computed in the following manner:
Particulars | Amount |
Gross annual value | XXXX |
Less:- Municipal taxes paid during the year | XXXX |
Net Annual Value (NAV) | XXXX |
Less:- Deduction under section 24 | |
➣Deduction under section 24(a)) at 30% of NAV
➣Deduction under section 24(b)) on account of interest on borrowed capital
|
(XXXX)
(XXXX)
|
Income from house property | XXXX |
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