Rental income
What this means, checked by a CA
Rent is taxed after a 30% standard deduction and municipal taxes. A let-out flat's loan interest still counts in the new regime, and co-owners split the income.
This is an add-on. Add it to the main plan
Your Savvy is a verified professional. Every paid answer is checked by a CA. Free AI answers are labelled until a CA verifies them.
Answers on this topic
- HUF as landlord: rental income and property tax strategyIf HUF owns a property (ancestral or purchased from HUF funds), all rental income belongs to HUF, taxed at HUF's slab rate. The HUF can also claim the ₹2L home loan in…
- Loss from House Property: ₹2L Cap on Set-Off and Carry ForwardMost home loan holders don't know that their loss from house property (excess of home loan interest over rental income) can reduce their taxable salary, but only up to…
- TDS on Rent: Section 393 (old 194-I; Commercial) and Section 393 (old 194-IB; Residential)Two different TDS sections cover rent, and most tenants confuse them. Section 393, Income-tax Act 2025 (old Sec 194-I): for companies and specified persons paying rent…
- Voluntary disclosure: declaring income before you get a noticeIf you realise you missed declaring income, interest income, rental income, freelance income, the smartest move is to declare it before the department comes to you. Vo…
- REIT vs direct property: the real comparisonDirect property: Rental yield net of maintenance: 2-3%. LTCG on sale: 12.5% (no indexation from July 2024). Illiquid. Requires maintenance, tenant management. TDS comp…