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Claim deductions on rental income in new tax regime
Financial Express Chennai
|November 01, 2025
YOUR QUERIES: INCOME TAX
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• In the new tax regime, I do not have to show any deduction. But I get rental income. Can I claim 30% deduction on rental value? —Subash Giri
Under the new tax regime i.e., Section 115BAC of the Act, an individual can continue to claim the standard deduction of 30% on the net annual value of a rented property while computing income under the head “Income from House Property". Notably, house tax (municipal taxes actually paid) is also deductible from gross rent, irrespective of tax regime. In other words, no further deductions (such as interest on home loan under section 24(b)) are available in the new regime unless for let-out property, subject to specified limits.
• How should I report loss from derivatives trading and set it off from gains in the cash segment? —Amit Jaiswal
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