In respect of let-out properties the computation is made
in the following manner: |
Gross Annual value |
|
xxx |
Less: corporation/municipal/ panchayat tax
paid |
|
xxx |
Net Annual Value (NA V) |
|
xxx |
Less: Deduction under Section 24 Repairs
& collection charges (1/5 of NAV) |
xxx |
|
Insurance premium paid |
xxx |
|
Insurance premium paid |
xxx |
|
Insurance premium paid |
xxx |
|
State government Annual charge |
xxx |
|
Ground rent |
xxx |
|
Interest on loans |
xxx |
|
Vacancy allowance |
xxx |
|
Unrealized rent |
xxx |
xxx |
Income from House Property |
xxx |
|
|
(From assessment year 2002-2003 onwards deduction for repairs can be claimed at 30 per
cent. However, no deduction other than interest on loans can be claimed.) |
| f. |
