Rental Income Tax Calculator
Calculate income from house property for let-out, self-occupied, or deemed let-out properties. Understand standard deduction, interest deduction, and loss set-off rules.
Calculating income from house property...
How House Property Income is Calculated
Gross Annual Value
For let-out: Actual rent or expected rent. For self-occupied: NIL.
Standard Deduction
30% of Net Annual Value is allowed as deduction for repairs, maintenance.
Interest Deduction
Home loan interest: Rs 2L limit for self-occupied, no limit for let-out.
Frequently Asked Questions
What is "deemed let-out" property?
If you own more than one house, only one can be treated as self-occupied. The other is "deemed let-out" - you must show notional rent even if it's vacant.
Can loss from house property be set off?
Yes, up to Rs 2 lakh loss can be set off against other income (salary, etc.) in the same year. Excess loss can be carried forward for 8 years.
Is standard deduction allowed for self-occupied?
No. Standard deduction of 30% is only allowed on Net Annual Value, which is NIL for self-occupied property.