House Property Income Calculator

Section 22–24 · GAV · NAV · 30% Standard Deduction · s.24(b) Interest · Self-Occupied / Let-Out / Deemed Let-Out · Old & New Regime · FY 2026-27 (AY 2027-28)

Tax Regime

Old Regime
s.24(b), s.24(a), all deductions

New Regime (s.115BAC)
Only let-out interest · No SOP deduction

Property Type

Self-Occupied (SOP)

Let-Out (LO)

Deemed Let-Out (DLO)

📌 Self-Occupied: Annual Value = NIL u/s 23(2). Loss limited to ₹2 lakh on 24(b) interest. Not available under New Regime.

📌 Let-Out: GAV = higher of Actual Rent or Expected Rent. No cap on 24(b) interest. Loss set-off against other income capped at ₹2 lakh/year.

📌 Deemed Let-Out: Second house (or more) kept vacant is treated as let-out at Fair Rent / Municipal Rental Value. Full 24(b) interest allowed.

Rental Income Details

Actual Rent Received / Receivable (₹/year) Total rent for the year. 0 for SOP.

₹

Municipal Rental Value / Fair Rent (₹/year) As assessed by municipal authority or fair market rent

₹

Standard Rent — if any Rent Control Act applies (₹/year) Maximum rent allowed under Rent Control Act. Leave 0 if not applicable.

₹

Municipal Taxes Paid by Owner (₹/year) Property tax paid during the year. Deductible from GAV u/s 23.

₹

Loan Interest Details — Section 24(b)

Interest on Housing Loan (₹/year) Interest component only — from bank's interest certificate

₹

Pre-Construction Interest (₹ total) Total interest paid before possession. Allowed in 5 equal instalments from possession year.

₹

Loan Purpose Affects cap on interest deduction

Construction completed within 5 years of loan? Affects SOP interest cap — ₹2L vs ₹30K

Computation of Income from House Property

FY 2026-27 (AY 2027-28) · — · —

📌 Key provisions: s.22 (chargeability) · s.23 (annual value) · s.24(a) (30% standard deduction) · s.24(b) (interest on loan) · s.71 (set-off of loss) · s.71B (carry forward of HP loss).
⚠ Loss from house property can be set off against other heads of income only up to ₹2,00,000 per year. Balance loss carried forward for 8 assessment years and set off only against HP income.
⚠ Under New Regime: s.24(b) deduction on interest is available only for let-out properties. No deduction for self-occupied property.
⚠ Under IT Act 2025 (effective FY 2026-27): corresponding sections are s.35 (GAV), s.36 (NAV), s.37 (standard deduction), s.38 (interest on loan).

About This Tool

The House Property Income Calculator computes income (or loss) from house property under Sections 22–27 of the Income Tax Act for the purpose of ITR filing. It handles self-occupied property (SOP), let-out property (LOP), and deemed let-out property (DLOP) scenarios. The calculator applies the standard deduction of 30% on Net Annual Value (NAV), deduction for municipal taxes paid, and interest on home loan under Section 24(b) — capped at ₹2 lakh for SOP.

How to Use

Select the property type: Self-Occupied, Let-Out, or Deemed Let-Out.
For let-out: enter actual rent received and municipal taxes paid by owner.
For SOP: Gross Annual Value (GAV) is Nil — only loan interest applies.
Enter interest on home loan paid during the year.
If applicable, enter pre-construction interest (5-year deferred amount).
Click Calculate — the tool shows NAV, 30% standard deduction, interest deduction, and net income/loss.

Frequently Asked Questions

What is the maximum deduction on home loan interest for a self-occupied house?

Up to ₹2,00,000 per year under Section 24(b), provided the loan was taken on or after 1-4-1999 for construction/purchase completed within 5 years.

Can house property loss be set off against salary?

Yes, up to ₹2 lakh of house property loss can be set off against other heads of income in the same year. The balance carries forward for 8 years.

Is standard deduction available on SOP?

No. The Gross Annual Value of a self-occupied property is Nil, so there is no NAV and hence no standard deduction. Only interest deduction applies.

What is deemed let-out property?

If a taxpayer owns more than two self-occupied properties, the additional properties are treated as deemed let-out — notional rent is calculated as income even if not actually rented.