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Deductions · effective 1 April 2026

Section 24(b) under the
Income-tax Act, 2025

Deduction for interest on borrowed capital — house property

Income-tax Act, 1961
24(b)
Income-tax Act, 2025
22(1)(b), with the cap in 22(2)(a)
ConfirmedTaken from the ICAI Direct Taxes Committee concordance and independently checked against the bare statutory text of the Income-tax Act, 2025.

Topic

Deduction for interest on borrowed capital — house property — Deductions provisions under the Income-tax Act, 2025 (Act 30 of 2025).

What carried over

The substance of this provision was not changed by the re-write. What moved is the citation.

Fully preserved: interest on borrowed capital at s.22(1)(b); pre-construction interest in five equal instalments at s.22(1)(c); the Rs 2,00,000 cap for self-occupied property (with the five-year completion condition and lender's certificate) at s.22(2)(a), and Rs 30,000 in any other case at s.22(2)(b). Old 24(a) standard 30% deduction is s.22(1)(a).

Source

Verified against bare text of s.22(1)(b), 22(1)(c), 22(2) and 22(3) in ICAI publication. ICAI concordance row '22 | Deductions from income from house property | 24'; corroborated by ClearTax ('24 -> 22').

Open the source document →

CBDT publishes its own correspondence utility on incometaxindia.gov.in and that is the authority. Spot-check anything high-stakes there before you rely on it.

Still cite section 24(b) for
Income earned up to 31 March 2026 — that is FY 2025-26, Assessment Year 2026-27, governed by the Income-tax Act, 1961 even though you file it during 2026.
Cite 22(1)(b), with the cap in 22(2)(a) for
Income earned from 1 April 2026 — Tax Year 2026-27 onwards, governed by the Income-tax Act, 2025. Tax deducted on payments made on or after 1 April 2026 must be reported under the new section 393 table references and new challan/return codes. Quoting a legacy section such as 194C or 194J triggers validation failure.
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23(2) · Nil annual value for self-occupied house property
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This is a navigational aid for the 1961 → 2025 transition, not tax advice. It helps you find the right place in the new Act when you already know the old section. Confirm every citation against the bare Act and against CBDT's own correspondence utility before relying on it in a return, certificate, notice reply or opinion. The source text used here is the Act as passed, so any rate or threshold amended by the Finance Act, 2026 is not reflected; section numbers are unaffected.

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