Tax Planning

Income from House Property

Whether your property is self-occupied or rented out, see the exact income or loss it creates - and how much you can set off against your other income.

Every property you own has a tax treatment under Indian income tax law - whether you live in it, rent it out, or leave it vacant. This calculator computes your actual taxable income or deductible loss from property, including the impact of your home loan.

Self-Occupied Property
If you live in the property yourself, the Annual Value is deemed NIL - there is no rental income to tax. However, you can deduct home loan interest up to ₹2,00,000 per year (Section 24b), creating a loss that sets off against your salary.
Let-Out Property
If rented out, your taxable income = Gross Rent received - 30% standard deduction - home loan interest (no cap). If the result is negative (more interest than rent), it becomes a property loss you can set off.
Loss Set-Off Cap
Property loss can set off against salary and other income - but only up to ₹2,00,000 per year under both Old and New Regimes. Any unabsorbed loss is carried forward for up to 8 assessment years.
Next step: Note the net income or loss computed here. Enter it in the House Property Income / (Loss) field of the Tax Regime Calculator to include it in your overall tax comparison.
Property Type:
If you have one self-occupied and one let-out property, choose Both.

Property Details

Self-Occupied Property

For a self-occupied property, the Annual Value is deemed NIL under the Income Tax Act. No rental income is taxed. Only the home loan interest is relevant - deductible up to ₹2,00,000 per year under Section 24(b) of the Old Regime.

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Maximum deductible: ₹2,00,000 under Old Regime. No deduction under New Regime.

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For your records only - principal goes into Section 80C (₹1.5L cap), which you can enter in the Tax Regime Calculator.

Your Property Income

Select your property type, enter the details, and click Calculate to see your house property income or loss.

Section 24(b) - Interest Deduction

For self-occupied property: up to ₹2,00,000 per year (Old Regime only). For let-out property: unlimited deduction (Old Regime) - but net loss set-off against other income is capped at ₹2L.

Net Annual Value (NAV)

For let-out property: GAV − Municipal Taxes = NAV. GAV is typically the actual rent receivable. From NAV, a flat 30% Standard Deduction is allowed (no bills needed), then home loan interest is deducted.

House Property Loss Set-Off

Under the Old Regime, losses from house property can be set off against salary or other income - but only up to ₹2,00,000 per year. Excess is carried forward 8 years. Under the New Regime, NO set-off is allowed.

Two Self-Occupied Properties

Since FY 2019-20, you can declare two properties as self-occupied (previously only one was allowed). The annual value of both is deemed nil, and interest deduction of up to ₹2L applies across both combined.

This calculator is for educational purposes only and does not constitute tax advice. Tax laws may change. Consult a qualified Chartered Accountant or tax professional for personalised guidance.