Question:
Under Section 24(a) of the Income-tax Act, 1961, what percentage of the annual value of an income from house property is allowed as a standard deduction?
Under Section 24(a) of the Income-tax Act, 1961, what percentage of the annual value of an income from house property is allowed as a standard deduction?
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House property income = Annual Value – 30% standard deduction – Interest (24b).
Updated On: Nov 30, 2025
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The Correct Option is C
Solution and Explanation
Step 1: Understanding Section 24(a).
Section 24(a) provides a flat 30% deduction on the annual value of house property income, irrespective of actual expenditure.
Step 2: Purpose.
This accounts for repairs, maintenance, and other related costs without the need for proof.
Step 3: Conclusion.
Standard deduction = 30% of annual value.
Section 24(a) provides a flat 30% deduction on the annual value of house property income, irrespective of actual expenditure.
Step 2: Purpose.
This accounts for repairs, maintenance, and other related costs without the need for proof.
Step 3: Conclusion.
Standard deduction = 30% of annual value.
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