§ 24
Heads of Income
Deductions from income from house property
Income-tax Act, 1961
Allows a standard deduction of 30% of net annual value and a deduction for interest on borrowed capital (up to ₹2,00,000 a year for a self-occupied house).
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.