Rental Income Is Not Fully Taxable: Tax Deductions Homeowners Should Know
Last Update Date: 05-10-2026
Published by Outlook Money
Abhishek Kumar's role: Quoted
Abhishek Kumar explained that the 30% standard deduction applies to let-out residential and commercial property, but may not apply if a commercial property is run as a serviced business centre and the rent is treated as business income.
More of Abhishek's views on money management
The article explains why homeowners do not pay tax on the full rent they receive from a let-out property. It covers the 30% standard deduction under Section 24(a), municipal taxes paid by the owner and home loan interest under Section 24(b), along with the ₹2 lakh limit on setting off house-property loss under the old regime.
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Rental Income Is Not Fully Taxable: Tax Deductions Homeowners Should Know