Income Tax Bill 2025: Income from house property taxation related two key amendments suggested by select committee, know the impact

Wait 5 sec.

The Lok Sabha Select Committee has suggested amendments to the Income Tax Bill 2025, focusing on house property income. These revisions aim to align the bill with the Income Tax Act, 1961. Key recommendations include a standard deduction of 30% from the gross annual value after municipal taxes and allowing home loan interest deductions for rented properties.