Tax exemption on income from rent of let out property

As per Section 24A of the Income Tax Act, a taxpayer is entitled to a 30 percent standard deduction from the rental income to cover expenses like renovation/repairs.

No tax will be payable on total income upto Rs. 5 lakh in old tax regimes and total income upto Rs. 7 lakh in new tax regimes

Thanks for the response.

I was referring to below article. Can you please confirm whether the information related to tax exemption on rental income is correct.

https://business.outlookindia.com/personal-finance/tax/tax-implications-you-should-know-while-renting-out-your-property#:~:text=Income%20Tax%20Exemption%20for%20Rental,self%2Doccupied%20and%20leased%20properties.

Income Tax Exemption for Rental Income up to Rs 2.5 Lakh

Starting from the fiscal year 2021-22, individual taxpayers enjoy an exemption from paying taxes on rental income up to Rs 2.5 lakh. This exemption is applicable for both self-occupied and leased properties.

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