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Pay Zero Tax on ₹40 Lakhs Income

Note: There's no limit on the loan interest deduction for let-out properties (rental properties). Whatever interest you pay, you'll get the full deduction for that amount.

If we consider the rental income individually (not jointly), a rental income of ₹17 lakh will be completely tax-free with out any extra deductions other than standard deduction.

This tax-free limit can increase even further based on the amount of property tax you pay and the interest you're paying on your loan, if you have one.

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Research Analyst disclaimer: https://groww.in/p/sebi-research-anal...
Name of the Research Analyst - Aakash Baid
Name of the narrator - Aleena Rais
Report Date: 07 November 2023