From video
Interpreted Prediction
In the new tax regime, interest paid on a home loan for a let-out property can be deducted against rental income. If the interest paid (e.g., 7 lakh) exceeds the rental income (e.g., 3 lakh), the deduction is limited to the rental income, resulting in zero taxable income from the property. The remaining interest can be added to the property's cost for future capital gains calculation.
AI Evaluation Notes
The prediction accurately describes the tax deduction rules for interest paid on home loans for let-out properties under the new tax regime. The deduction is limited to the rental income, and any excess interest can be added to the property's cost for capital gains calculation [cite: i].