Priya Mehta - FY 2024-25 (AY 2025-26)
ABCPM5678L - New tax regime
| Property (share) | GAV | Municipal tax | NAV | 30% std. ded. 24(a) | Interest 24(b) | Income |
|---|---|---|---|---|---|---|
| Sunrise Heights 3B (40.00%) | ₹2,77,200.00 | ₹7,400.00 | ₹2,69,800.00 | ₹80,940.00 | ₹2,38,000.00 | -₹49,140.00 |
| Total | ₹2,77,200.00 | ₹7,400.00 | ₹2,69,800.00 | ₹80,940.00 | ₹2,38,000.00 | -₹49,140.00 |
Set-off and carry forward
| Income / (loss) from house property | -₹49,140.00 |
| Set off against other heads (cap Rs 2,00,000, not allowed in new regime) | ₹0.00 |
| Loss carried forward to next 8 years | ₹49,140.00 |
| Loss carried forward at year end | ₹1,13,520.00 |
|---|
Pending lots: FY 2023-24: ₹64,380; FY 2024-25: ₹49,140.
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 | ₹24,255.00 | ₹9,702.00 |
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.