Residential property income reduction for newly completed buildings allows capped deductions for residential units, preventing assessed loss. A new provision applies to buildings completed after 31 March 1978, allowing for a five-year reduction of income from such buildings by an aggregate sum: (i) the full annual value for units whose annual value does not exceed Rs. 2,400, and (ii) a fixed amount of Rs. 2,400 for units whose annual value exceeds Rs. 2,400; additionally, income in respect of any residential unit under the relevant clauses is in no case to be a loss. The amendment also restricts the earlier clause to buildings completed after 31 March 1970 but before 1 April 1978.