Anju Lata owns the two-house properties in India. The first House is in Delhi and used by her for self-residence during the financial year 2024-25. Municipal Value of this house was ₹ 2,00,000; Fair Rent was ₹ 2,40,000 a

Computation of Income from House Property of Anju Lata for A.Y. 2025-26 (paying tax by opting to shift out of section 115BAC) Particulars Amount (₹) House 1 at Delhi [Self Occupied Property] Net Annual Value (NAV) Nil Less: Interest on borrowed capital (Max. limit for self-occupied house is ₹ 2,00,000 on the assumption conditions are fulfilled, otherwise 30,000 maximum will be allowed) 2,00,000 Net Income from House Property / (Loss) (2,00,000) House 2 at Mumbai (Partly let out and partly vacant) Municipal Value 3,60,000 Fair Rent 3,90,000 Whichever is higher 3,90,000 Standard Rent 3,75,000 Whichever is lower (Expected Rent) 3,75,000 Annual Rent (₹ 30,000 x 12) 3,60,000 Whichever is higher (Gross Annual Value before vacancy) 3,75,000 Less: Vacant Period Rent (3 month) (₹ 30,000 x 3) (90,000) Gross Annual Value (GAV) 2,85,000 Less: Municipal Taxes paid by owner Nil Net Annual Value (NAV) 2,85,000 Less: Standard Deduction @ 30% (85,500) Less: Interest on borrowed capital (1,50,000) Income from House Property 2 49,500 Total Income from House Property (House 1 + House 2) / (Loss) (1,50,500)