The Income/ Loss from House Property is computed in the following manner:-
| 1. | Gross Annual Value (i.e. Actual Rent or Expected Rent, whichever is higher) | xxx | |
| (Less) | 2. | Municipal and Other taxes paid to Local Authority | (xxx) |
| 3. | Net Annual Value (1-2) | xxx | |
| (Less) | 4. | Deductions allowed under Section 24 | |
| a. Statutory Deduction @ 30% of NAV | (xxx) | ||
| b. Interest on Borrowed Capital (Home Loan) | (xxx) | ||
| 5. | Income chargeable under head House Property (3-4) | xxx |
