PROPGUIDE − A Complete Property Guide
#happyhome

An Explainer: Income From House Property

Loading video...

Description

Giving your house on rent allows you to earn extra money on your home investment. However, this earning is part of your taxable income and is treated as ‘income from house property’ for taxation purposes.

Based on the gross annual value of the property, you have to pay property tax, on which you can claim a rebate. According to the Finance Bill, 2016, a sum equal to 30 per cent of the arrears of rent or the unrealised rent will be allowed as deduction.

If you have taken a loan to purchase the property, you can avail of other tax benefits as well. For example, you can claim a rebate on the interest you pay on your home loan. Besides, if the rent you receive is less than the amount you pay as your equated monthly instalment, or EMI, you may also avail of certain rebates, against loss from property let out. 

For regular updates on real estate, click here

Tags: home loan, Video, Term Of The Week, propguide, tax rebate, Income On House Property, Finance Bill 2016


Is NCR Losing Out To Mumbai, Bengaluru, Pune?

The National Capital Region, for very long, has been the largest residential real estate market in India. But, is NCR losing out to Mumbai, Bengaluru and Pune?

November 10 2015

+ Click Here To Read This Article

Here Is How to Save More On Taxes

PropGuide lists some tips to save on taxes.

October 13 2015

+ Click Here To Read This Article

A Guide For NRIs To Transfer Money To Buy Property In India

PropGuide look at the norms governing transfer of money to India and how NRIs should do it.

September 25 2015

+ Click Here To Read This Article

5 Things NRIs Should Know Before Investing In Indian Real Estate

Are you a non-resident Indian (NRI) planning to invest in Indian real estate? These are things you need to keep in mind before making an investment.

September 24 2015

+ Click Here To Read This Article

NRI Investments In Indian Real Estate: How To Get This Right?

With the government keen on strengthening Indian economy including investments, the process of investing in the real estate sector will become easier for NRIs. So if you are planning to invest, read what would be the dos and don’ts.

July 29 2015

+ Click Here To Read This Article

5 Creative Eco Resorts Around The World

If luxury housing are eco-friendly then what else could you want? It's like having your cake and eating it too!

May 04 2015

+ Click Here To Read This Article

#RealtyNewsRoundUp: Bank Of Baroda To Offer Cheapest Home Loan

Here are today’s top news stories from the real estate sector.

January 10 2017

+ Click Here To Read This Article

#RealtyNewsRoundup: Benami Property Transactions Prohibition Act Comes Into Effect

Here are today's top news stories from the real estate sector.

November 02 2016

+ Click Here To Read This Article

In the Union Budget 2017, the million dollar question for the market players is if the government...

Here are today's top news stories from the real estate sector.

India's self -employed workforce as well as those who do not have an HRA component in the lump sum...

There have been a lot of speculations about what the budget for 2017-18 holds with regard to real...

The Akrama-Sakrama Scheme came into force in March 23, 2015. The owners now have an extended...

Union Urban Development Minister Venkaiah Naidu says India will soon have a more efficient parking...

Reports show authorities in Noida are mulling an exit policy for developers to surrender vacant...

Here is all you need to know about 'betterment fees'.

A building code is a set of norms that govern construction of buildings by stipulating minimum...

Proptiger has released it's quarterly review report on India's real estate sector. Ankur Dhawan,...

PropGuide simplifies complex real estate jargons for you.

Sunil Mishra, Chief Business Officer, PropTiger, talks on new online realty platforms for NRIs.

Subscribe Now

To stay tuned with real estate updates

Pick:

x +

Drop Your Query here


Top