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Regarding Income from house property

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(Querist)
24 December 2023 Suppose house property (jointly owned by husband and wife) is let out with one time lease amount for 10 years instead of monthly rental, how to calculate the income from house property for FY 2023-24 under new tax regime.
There is also loan taken for the house property in the name of joint owners. What are the tax implications for both?
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Aashok Kumar Sharma

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Aashok Kumar Sharma (Expert)
14 January 2024 Income tax needs to be discharged on cash/receipt basis subject to other conditions
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