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
✎ Example — edit to match your property
Enter monthly — annual fills automatically
Rs.
Total rent for the full financial year — edit directly if rent varied
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)
Schedule HP — Income from House Property
Financial Year 2024-25 · Generated via RealAssist free calculator
realassist.in/tools/schedule-hp-calculator · Indicative only — verify with your CA before filing
Tax filing season is here
Generate your CA-ready Schedule HP PDF in 30 seconds
RealAssist tracks rent, stores loan interest, and produces a signed Schedule HP PDF for ITR-2 — for every property you own. Free for 14 days, no card required.
Start free trial →Important 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
Disclaimer: Results are indicative only. This calculator uses standard tax rates for FY 2024-25 and does not account for all individual circumstances, exemptions or recent legislative changes. Do not use these figures for actual ITR filing without independent verification. Consult a qualified Chartered Accountant before filing.
Track rent, expenses & Schedule HP across all your properties — free trial at realassist.in/register