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Tax calculation on wholly let out property in IT0584


We gave input values in Final lettable value and Ded. interest u/s 24 under wholly let out property in IT0584 ,system is generating deduction under any other income, but we are not getting correct amount.

Calculation

Final
lettable value or Net Annual value 29000 LessStandard
deduction 30% on NAV 8700 20300 Interest on
loan 205888 Income -185588

But system in giving income gain or losst Rs. 176888/- .

Difference between amount calculated outside and by the system is Rs.8700/-

Like to know where we are going wrong or need to change any system configuration.

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1 Answer

  • author's profile photo Former Member
    Former Member
    Posted on Oct 16, 2015 at 05:48 PM

    Can you send a screenshot of all data in IT 584?

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