Someone please help me in illustration 13

Arpita · 17 Sept 2024

In second part of the question If the house is let out then it's GAV will be actual rent since fair rent, standard rent and municipal value is not given .from gav deduct municipal taxes to arrive at NAV ,and from NAV deduct standard deduction @30% and interest amount to arrive at total income from the head House property

Arpita · 17 Sept 2024

As the house is self occupied NAV will be NIL and standard deduction will not be allowed .Only the amount of interest will be the total income from House property which will be deducted from income under the head salary since the amount of interest will be deduction allowed(i.e negative)