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Tax on house property income under IT new regime
If the income from house property is negative, whether it is eligible for deduction from the total income under IT new regime during F.Y.2023-24. Hope there is limit of ₹200000/- by way of interest on housing loan while arriving the negative income. Please clarify.
Replies (2)
If you opt for new tax regime then there is no benefit u/s 24(b). It is only applicable for old regime.
No benefit available unless income is positive.
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