Calculation of Income / Loss from House Property

Employee Name: ABC

Employee SID: A123456
Number of properties owned: 1

Address of the property

XYZ
Status of Property (Select from Dropdown) >> Let Out

Taxable Annual Value of the property

(Rent Received Till Date and Rent To Be Received during the
Financial Year (upto March 2022)
** ‘Nil’ in case of up to 2 self-occupied properties as per
section 23(2) of the Income Tax Act, 1961 200,000
Less: Municipal Taxes Paid (only if let out/ deemed to be let-
out) 800
Net Annual Value 199,200
Less: Deduction under section 24
(a) Statutory Deduction at 30% of Net Annual Value 59,760
(b) Interest on Borrowed capital (available upto
specified limits) 300,000
Income chargeable from House Property (160,560)

- Details as per above format to be provided for additional properties as well (if any)

I hereby declare that the above mentioned information is true and I am fully aware of the said provisions of the
Income Tax Act, 1961 to avail the exemption/ deduction benefit. I will be solely and wholly responsible to
handle any queries from any competent officials and / or to submit all relevant documents to the Income Tax /
Competent Authorities.

Date: DD-MM-YYYY
Place: MUMBAI