What is the taxation on rental income?

I want to rent out my 1-bhk house and plan to move into a 2-bhk apartment taken on a higher rent. —Name withheld on request The taxability of income earned by you from let-out residential house property and the tax deductions available towards rent paid, are dealt under separate provisions, under the Indian income-tax laws. The following exemption/ deduction may be available under the old tax regime, subject to fulfilment of relevant conditions: —In case you are a salaried employee and are in receipt of house rent allowance from your employer, then, as per the provisions of section 10 of the Income Tax Act, an exemption may be available for the rent paid against the HRA received by an employee, calculated as least of the following: actual HRA received; or rent paid, less 10% of basic salary and dearness allowance, or 50% of basic salary and dearness allowance. In case you are not in receipt of HRA, then deduction under section 80GG of the Act may be available from gross total income, subject to least of the following: rent paid, less 10% of your total income; or ₹5000 per month; or 25% of your total income. The following additional conditions are to be fulfilled for availing such deduction: rented accommodation should be occupied by you for your own residence; no accommodation should be owned by you or your spouse or your minor child at the place where you ordinarily reside or perform your employment or carry your business or profession; no accommodation is owned by you at any other place, which is either considered as self-occupied or deemed let out for the purpose of computing income from house property; and a declaration in Form 10BA is filed by you in the prescribed manner, for claiming the deduction.