Tax exmption in let out property in new regime

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Hi Team,

In a New Tax regime, do income from let-out property including rent and interest is eligible for tax exemption under section 24 ?

I know that for self occupied property is not eligible but have a quaery for let-out property can be consider for deduction ?

Pls share your thoughts and reference documents.

 

Replies (6)
Quick Summary
This discussion clarifies tax exemptions for let-out properties under the new tax regime. It confirms that interest on home loans for let-out properties remains eligible for deduction under Section 24. While self-occupied properties don't qualify, advice is provided on claiming these exemptions, preferably through your employer or by filing your personal Income Tax Return (ITR).

Yes, under the New Tax Regime, interest on home loans for let-out properties is eligible for tax exemption under Section 24 of the Income Tax Act. 

Hi Dhirajlal

Pls share any verified URLs and references so i can share with Employer and made the necessary changes. 

 

https://economictimes.indiatimes.com/wealth/tax/home-loan-interest-advantage-in-new-tax-regime-you-can-reduce-your-income-tax-by-claiming-loss-but-only-on-this-type-of-house-property/articleshow/114533493.cms

https://www.taxheal.com/list-of-deductions-allowed-in-new-tax-regime.html

can emplyoee can claim the exemption with employer or we need to claim it during the personal ITR ?

Always better to get it availed through the employer. If missed, it can be claimed while filing ITR but CPC may require  verification.

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