An owner occupies his whole building as the office of his own business, whose profits are taxable, and lets no part of it. The building could be let for ₹1,20,000 a year, and he pays ₹10,000 of…

Section 20(2) of the Income-tax Act, 2025 excludes from the house-property charge any part of a property the assessee occupies for his own business or profession whose profits are chargeable to tax. The annual value is therefore not computed at all; ₹77,000 would be the result only if the building were let (₹1,20,000 less ₹10,000, less 30%).