Rohan Mehta - FY 2023-24 (AY 2024-25)
ABCPM1234K - Old tax regime
| Property (share) | GAV | Municipal tax | NAV | 30% std. ded. 24(a) | Interest 24(b) | Income |
|---|
| Sunrise Heights 3B (60.00%) | ₹3,96,000.00 | ₹11,100.00 | ₹3,84,900.00 | ₹1,15,470.00 | ₹3,66,000.00 | -₹96,570.00 |
| Lakeview Villa (100.00%) | ₹2,24,000.00 | ₹31,200.00 | ₹1,92,800.00 | ₹57,840.00 | ₹0.00 | ₹1,34,960.00 |
| Orchid Plaza Shop 12 (50.00%) | ₹2,16,000.00 | ₹11,200.00 | ₹2,04,800.00 | ₹61,440.00 | ₹0.00 | ₹1,43,360.00 |
| Total | ₹8,36,000.00 | ₹53,500.00 | ₹7,82,500.00 | ₹2,34,750.00 | ₹3,66,000.00 | ₹1,81,750.00 |
Set-off and carry forward
| Income / (loss) from house property | ₹1,81,750.00 |
| Brought-forward loss set off | ₹0.00 |
| Taxable house property income | ₹1,81,750.00 |
| Loss carried forward at year end | ₹0.00 |
|---|
TDS under section 194-IB (tenants paying over Rs 50,000 a month)
| Tenant | Unit | TDS for the lease | Your share |
|---|
| Arjun Nair | Sunrise Heights 3B / Flat 3B | ₹33,000.00 | ₹19,800.00 |
Tenant deducts once a year (or on vacating) and deposits it with Form 26QC; claim the credit using Form 16C / Form 26AS.
Notes
- GAV is the higher of expected rent and rent receivable; if the property was vacant at any time the receivable rent is used. Separate maintenance charges are excluded.
- Loan interest and municipal taxes are split in proportion to ownership.
- Old regime: a house property loss sets off against other heads up to Rs 2,00,000; the balance carries forward 8 years against house property income only. New regime: no inter-head set-off, the full loss carries forward.
- Indicative working to help prepare the return; confirm with a chartered accountant.