I have rented out part of my house and use the remaining area for my own residential purposes. How will the income from the house property be calculated?

In the aforementioned scenario, both components of the house must be regarded as separate house properties. Their income will be determined as follows:

The portion of the property that you use as your home will be considered a self-occupied property, and the Gross Annual Value (GAV) of such "Self-occupied property" shall be NIL.

The portion of the house you've rented out will be considered a let-out property, and your income will be calculated as income from "Let-out property".