Property 3 ₹15,000 ₹12,000 ₹10,000 ₹12,000 Determine the fair rent for each property. This is
WHEN IS A PART OF PROPERTY IS SELF-OCUUPIED AND A PART IS LET OUT
When a part of a property is self-occupied and another part is let out, the
INTREST ON BORROWED CAPITAL [SEC.24 (b)]
Interest on Borrowed Capital, also known as Section 24(b) deduction, is a provision under the
INTREST OF PRE-RECONSTRUCTION PERIOD
Pre-construction interest, also known as pre-paid interest, is the interest paid on a housing loan
HOUSE PROPERTY FULLY UTILISED THROUGHOUT THE PREVIOUS YEAR FOR SELF RESIDENTAL PURPOSES [SEC.23 (2) (a)]-
A house property fully utilised throughout the previous year for self-residential purposes is a property
COMPUTATION OF ANNAUAL VALUE OF TWO SELF OCCUPIED
When it comes to computing the annual value of two self-occupied properties under the Income
INTREST ON BORROWED CAPITAL [SEC.24 (a)]
Interest on borrowed capital is a type of deduction that taxpayers in India can claim
STANDARD DEDUCTION [SEC.24 (b)]-
The standard deduction under Section 24(b) of the Income Tax Act, 1961, allows individuals to
DEDUCTION UNDER SECTION24-
Deductions under Section 24 of the Income Tax Act, 1961 provide tax relief for expenses
COMPUTATION WITH THE HELP OF ILLUSTRATIONS
Computation of income tax involves calculating the taxable income of an individual or entity and