The calculation of income from house property or property income is very simple and standard. I shared a dedicated post on this subject i.e. How to calculate income from House Property. While answering a query on the open forum, the readers share their queries in a summarized form. Therefore, all the details are not mentioned in a query. Please note that property income can be treated as a business income, depending on your main business. Recently one of the regular readers of this blog Mr. Rajesh Sharma posted a similar query. He took retirement under VRS at the age of 48 from a PSU and ... Read More
How to calculate Income from House Property
Income from House Property is clubbed with the total income while filing Income Tax Return. One of the most common query i received is on how to calculate income from House Property. Income from House Property arises when you have a property which is Let out Property i.e. you receive Rental Income from such property. Though this head is titled as Income from House Property but it is not necessary that you only gain income from House property. In case of Home Loan, Income from House Property can be negative i.e. you may incur Loss from Let out property when Home Loan Interest outflow outweigh ... Read More