Since you are opting for New tax Regime u/s 115BAC. You will not be eligible to set-off House property loss and claim following deduction/allowances.
1) Certain allowances u/s section 10 (LTA, HRA, allowances granted to meet expenses in performance of duties of office, Allowances granted to meet personal expenses in performance of duties of office, Allowance received by MP/MLA/MLC)
2) Deductions u/s 16 (Standard Deduction ,Entertainment allowance and Professional tax)
3) Interest payable on borrowed capital for self occupied property
4) Standard Deduction in case of family pension
5) Chapter VIA Deduction (life insurance, health insurance premium, pension funds, provident fund, donation etc except Contribution made by employer to notified pension scheme u/s 80CCD(2))
New tax Regime u/s 115BAC.
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