Section 24 → Section 27
Deductions from Income from House Property
Quick Answer
Section 24 of the Income Tax Act, 1961 (Deductions from Income from House Property) corresponds to Section 27 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 24
Provision Summary
Allows 30% standard deduction and deduction for interest on borrowed capital (home loan).
Sec 27
Provision Summary
Retained. The self-occupied property interest limit is maintained but strictly monitored to prevent double claiming between spouses.
Key Changes & Highlights
- Pre-construction interest calculation completely automated based on loan disbursement dates.
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Frequently Asked Questions
What does Section 24 of the Income Tax Act 1961 deal with?
Section 24 (Deductions from Income from House Property) Allows 30% standard deduction and deduction for interest on borrowed capital (home loan).
What is the new section number for Section 24 under the Direct Tax Code 2025?
Section 24 of the ITA 1961 maps to Section 27 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 24 under the new tax code?
Section 24 is marked as "Retained" with status "Active". Impact: High - Essential for home loan borrowers.
What are the key changes to Section 24 under DTC 2025?
Pre-construction interest calculation completely automated based on loan disbursement dates.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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