2.3. COMPUTATION OF INCOME FROM “LET-OUT PROPERTY” :
After arriving at Rateable Value and Annual Value, if the property is let-out (given for rent / lease), the following deductions for which the owner is eligible :
1. Repair Charges (restricted to 30% of Annual Value of the Property).
2. Interest on borrowed capital for the purpose of acquisition, construction, re-construction, repairs, renovation etc.