Name: Financial Year: 2020-21

VAM ID:
House Address:
…………………………
…………………………
………………………

Status of the House Property Self Occupied

Computation of Income/ Loss from House Property for the financial Year 2020-21

No of Months Monthly Rent

Gross Annual Value 0
Less: Municipal taxes 0.00

Net Annual Value ( Income ) 0

Less: Deductions U/S.24:

Standard deduction 30% on NAV 0.00 0
Interest during Pre-contruction (completion) period EMI ( 20 % ) 0
Interest on Housing Loan (Borrowed Capital) 150000.00 150000
150000
Income from House Property -150000

Eligible loss (restricted to Rs. 200000) -150000

Date: / / 2020 Signature:……………………………………….

Note- i) Please write in the Status column either Self Occupied or Let Out which ever is applicable for the year.

ii) Section 24(b) of the Act allows deduction from income from house property on interest on borrowed capital as under.

iii) The Deduction is allowed only in case of house property which is owned and in the occupation of the employee for his own
residence. However, if it is not actually occupied by the employee in view of his place of the employment being at other place,
his residence in that other place should not be in a building belonging to him.
iv) Ceiling will be Rs. 30,000 only if capital is borrowed before April 1, 1999 for purchase, construction, reconstruction, repairs or
renewals of a house property.
v) Ceiling will be Rs. 30,000 If capital is borrowed on or after April 1, 1999 for reconstruction, repairs or renewals of a house
property.
let-out
Self Occupied