Income from self-occupied property: NAV is nil and interest on housing loan may be deductible loss subject to statutory caps. Computation of income from a self-occupied property yields a Net Annual Value of nil where no rent is receivable; municipal taxes paid are not deductible. The standard deduction under section 24(a) (30% of NAV) is nil when NAV is nil, while deduction under section 24(b) allows interest on borrowed capital, which may produce a loss for house property; the interest deduction is subject to statutory caps.