🏠 For landlords filing ITR · FY 2025–26

How much tax do you pay
on rental income?

Calculate tax on rent received with full deduction breakdown — property tax, 30% standard deduction, and home loan interest under Section 24. Step by step.

Section 24 deductions 30% std deduction Home loan interest Co-ownership ITR filing guide
Enter your rental income details
Rental income
₹
Total rent received in the financial year (monthly rent × months rented)
Deductions
₹
Municipal / house tax actually paid this year. Only what you paid — not arrears.
₹
For let-out property — fully deductible with no upper limit. Enter annual interest amount.
Your tax profile
Your overall income slab — rental income is added to your total income
Under new regime, Section 24 deductions are not available on house property
🧾
Enter your rental income details to calculate tax payable with full deduction breakdown
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❓ FAQ

Rental income tax — common questions

How is rental income taxed in India?
Rental income is taxed under "Income from House Property." You deduct property tax paid and get a 30% standard deduction on the remaining amount. Home loan interest is also deductible. The final amount is added to your total income and taxed at your slab rate.
What is the 30% standard deduction?
Under Section 24(a), 30% of the Net Annual Value (rent minus property tax) is automatically deductible toward repairs and maintenance — regardless of actual expenses incurred. No bills or receipts are needed. It applies to all let-out properties.
Is home loan interest fully deductible for rented property?
Yes. For a let-out property, the entire home loan interest paid during the year is deductible under Section 24(b) — there is no upper limit. This differs from self-occupied property where the deduction is capped at ₹2 lakh per year.
What is Net Annual Value (NAV)?
NAV = Gross Annual Rent − Property Tax Paid. It represents the actual income from the property after accounting for the municipal tax burden. The 30% standard deduction and home loan interest are both applied on top of NAV to arrive at taxable income.
How do co-owners report rental income?
Each co-owner declares their proportionate share of rental income in their own ITR. Deductions (property tax, standard deduction, loan interest) are also split in the same proportion. Each files independently based on their share of income.
Can I claim deductions under the new tax regime?
No. Under the new tax regime, deductions under Section 24 (standard deduction and home loan interest) are not available for house property income. The entire rental income (minus property tax) is added to your total income and taxed at the new regime slab rates.
Where do I show rental income in ITR?
Rental income is reported under "Schedule HP" (House Property) in ITR-1 or ITR-2. ITR-1 can be used if you have one house property. If you have more than one property or business income, use ITR-2. The income flows to your total taxable income after all deductions.
What if my rental income results in a loss?
If deductions (especially home loan interest) exceed rental income, you incur a "loss from house property." Under the old regime, this loss can be set off against other income heads (salary, etc.) up to ₹2 lakh per year. The remaining loss is carried forward for 8 years.
Related searches
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