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of <h1>Section 22 preserves 30% deduction tied to annual value under Section 21, keeps interest caps and spreading rules</h1> The enacted Section 22 retains a 30% standard deduction (now tied to annual value as determined under section 21), preserves interest caps of Rs.200,000 and Rs.30,000 for properties under section 21(6) with certificate/conditions, and keeps the five-instalment spreading of pre-acquisition interest but relocates that rule into the primary computation clause, clarifying its general applicability. The Act expressly requires reduction of spreading deductions by amounts already allowed under other provisions, repeats the aggregate cap, and reiterates non-allowance of interest payable abroad absent Chapter XIX-B tax/withholding or an Indian agent. Changes are drafting and placement clarifications rather than substantive rate alterations.
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