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Income from House Property

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21 July 2008 A person having house at one city and he has letout this house but residing other city due to employment and residing in rented accomodation.

Please advise what would be the annual value for the income from house property for this individual.
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
21 July 2008 if house is rented then calculate the income from house property & in another city he pays rent if house rent allownce is received then calculate the rent paid in excess of 10% of salary,actul rent paid,40% or 50% of the rent which ever is less is exempted for tax purpose
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