<h1>Taxation of house property: gross rent based on actual rent for let-out properties; notional presumptive rent removed.</h1> The proposed DTC treats gross rent for let-out house property as the rent received or receivable, abolishing the presumptive notional-rent computation tied to rateable value or construction cost. Gross rent for non-let properties is nil and ordinarily attracts no deductions for local taxes or interest. An exception allows individuals and HUFs to claim an interest deduction for capital borrowed for acquisition or construction of one self-occupied house within a prescribed ceiling, with corresponding adjustment of overall savings-related limits.