House rental income refers to the earnings received by an individual or business from leasing residential or commercial property to tenants. Under the Income Tax Act, 1961, rental income is taxable under the head “Income from House Property.” The taxable amount is calculated after allowing deductions such as municipal taxes paid, standard deduction (30% of annual rent), and interest on home loans (if applicable). Proper documentation of rental agreements, rent receipts, and payment records is essential for accurate tax computation and compliance. For properties rented out to multiple tenants, all rental income must be aggregated and declared in the income tax return. Timely declaration and payment of taxes on house rental income help avoid penalties, interest, and legal scrutiny. Professional guidance is often recommended to determine eligible deductions, calculate net taxable income, and ensure compliance with tax laws. Maintaining accurate records and filing returns on time enhances financial transparency, supports legal compliance, and safeguards property owners from disputes or penalties.