House Property Income Calculator
Income or loss from a self-occupied or let-out house: 30% deduction, home loan interest limits and loss set-off, old vs new regime.
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The House Property Income Calculator computes income or loss from a self-occupied or let-out house under the old and new tax regimes: annual value, the 30% standard deduction, home loan interest (capped at Rs 2 lakh for a self-occupied house in the old regime and not allowed for it in the new regime) and how much of a loss can be set off against other income. It follows Sections 22 to 24, 71(3A) and 71B of the Income-tax Act, 1961 for FY 2025-26 and Sections 20 to 22, 109 and 110 of the Income-tax Act, 2025 from Tax Year 2026-27.
Use the House Property Income Calculator
Income from House Property
Work out the income from one house that you own. For a let-out house, the annual value is the higher of the expected rent and the actual rent, less municipal taxes you paid; then a flat 30% is deducted for repairs, and interest on the home loan is deducted in full. A self-occupied house has a nil annual value, so the only figure is the loan interest: allowed up to ₹2 lakh in the old regime and not allowed in the new regime. Co-owners each compute their own share and get their own limit.
Old and new regime compared
| Item | Old regime | New regime |
|---|---|---|
| 30% standard deduction (let-out) | Allowed | Allowed |
| Interest, self-occupied house | Up to ₹2,00,000 (or ₹30,000), for all such houses together | Not allowed |
| Interest, let-out house | In full | In full |
| Set-off of loss against salary and other heads | Up to ₹2,00,000 a year (Section 71(3A) / Section 109) | Not allowed (Section 115BAC / Section 202) |
| Carry forward of the balance | 8 years, only against house property income (Section 71B / Section 110), even if the return is late | Not carried forward: the loss is treated as already given full effect (Section 115BAC(3) / Section 202(3)) |
- Two self-occupied houses: up to two houses you live in (or cannot live in because you work elsewhere) can have a nil annual value. A third house is deemed let out and taxed on its expected rent.
- Pre-construction interest: interest up to the year of completion is allowed in five equal instalments starting that year. For a self-occupied house it falls within the ₹2 lakh limit.
- Municipal taxes are deducted only when actually paid by the owner, in the year of payment.
- Unrealised rent that meets the conditions in the Rules is left out of the actual rent; if recovered later it is taxed in that year after a 30% deduction. Arrears of rent are taxed the same way.
- Principal repayment is a separate deduction (Section 80C / Section 123) in the old regime only, as is the extra interest deduction under Section 80EE / 80EEA for older loans that qualified.
- Part of a house used for your own business or profession is taxed under business income, not here.
Law used: Sections 22, 23, 24, 71(3A), 71B, 80 and 115BAC of the Income-tax Act, 1961; Sections 20, 21, 22, 109(1)(b), 110, 121 and 202(2) and (3) of the Income-tax Act, 2025. Read the bare Act on incometaxindia.gov.in; the incometaxindia.gov.in guide on set-off and carry forward of losses explains the ₹2 lakh limit.
Frequently Asked Questions
How is income from a let-out house calculated?
How much home loan interest can I claim on a self-occupied house?
Can I claim home loan interest on a let-out house in the new regime?
How much house property loss can be set off against salary?
Do co-owners each get the Rs 2 lakh interest limit?
Due in the next 30 days
Income tax- TDS / TCS deposit (e-Pay Tax, Challan ITNS 281) for October
- ITR Filing (taxpayers under audit, companies)
- ITR Filing (international / specified domestic TP)
Full compliance calendar → Statutory dates, which can be extended by notification. General information only.