How is the income from house property computed?

The income from house property is computed after making certain deductions to the annual value or annual lettable value of the property. The first and most important step is the computation of annual value (AV) or (ALV) of the said property. The steps for computation of net income from house property are:

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• How is income from a house property as per the Income tax Act different from the ‘rental income’ received from house property?

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• I have rented out a part of my house property and I stay in another part of the same house property. In such case, how will the income be computed?

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• What is classified as “Income from house property”?

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