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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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Former Member
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