Free Tool
Schedule HP Calculator
Compute your taxable house property income for ITR-2 — Section 24(a) & 24(b) included. Free, instant, no login.
Your property details
Total rent collected during the financial year
Rs.
Property tax paid by you (owner) during the year
Rs.
Interest component of EMI paid — Section 24(b), no cap for let-out property
Rs.
How this calculator works
- GAV — Annual rent received (or notional rent if deemed let-out)
- NAV — GAV minus municipal/property taxes you paid
- Section 24(a) — Flat 30% of NAV, no bills needed
- Section 24(b) — Full home loan interest for let-out property (no cap)
- IHP — Taxable income: NAV − 24(a) − 24(b)
Automate this every year
RealAssist computes Schedule HP for all your properties
Tracks rent, stores loan interest, generates a Schedule HP PDF for your CA — all in one place.
Start free — no credit cardImportant notes
- A loss from house property can be set off against salary income up to Rs. 2,00,000/year
- For self-occupied property, Section 24(b) is capped at Rs. 2,00,000
- NRI landlords — your tenant must deduct TDS at 31.2% under Section 195
- Use this for let-out residential or commercial property; deemed let-out applies if you own more than two properties