How to Compute the Housing loan benefit if the property is ‘let out’?

[mkhasan]

My Taxable Salary Income is Rs 10,00,000 and I own a house and the rental income from this is INR 2,00,000 during the Financial Year 2008-09 and I have paid the Municipal/Corporation taxes Rs.50000/- during the last Financial Year 2008-09.

Could you please tell me how to compute the Hosing loan benefit?

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