Income From House Property

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  1. Ranganathan

    Ranganathan New Member

    Dear Sir,

    I'm working in a copmany and i'm receiving HRA Rs. 2,95,488 per year , i have taken a Home Loan for that i'm paying Interest Rs. 3,00,000 per year and Principle Repayment is rs. 30,000/- and i let out this property for rent and i'm receiving Rs. 36,000/- as rent per year and i'm residing in a rented house for that i'm paying rent Rs. 3,60,000 /- per year.

    what will be my income from property and what benefit i'll get for my tax purpose.

    Please clarify this.
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