The following deductions are to be allowed while computing income from house property :-
(a) Any amount of Municipal Taxes Paid by Client to Local Government Authority on House Property Owned By him/her during the Financial Year 2012-2013.
(b) 30% of the annual value ( Rent received / Receivable Minus Municipal Tax), in respect of repairs and collection charges;
(c) interest payable on loan taken for acquisition, construction, repair, renewal or re-construction of the property;
In respect of a self-occupied property whose annual value is taken as Nil, no deduction is admissible except deduction for interest payable on loan as mentioned at (c) above.