Income tax on rent is applicable under the Inland Revenue Act. Here are some key points regarding the taxation of rental income:

• Rental income is considered part of your assessable income and must be included when calculating your taxable income.
• For an individual with rental income from an investment asset, a relief equal to 25 percent of the total rental income for the year of assessment is available. This relief is for the repair, maintenance, and depreciation relating to the investment asset, provided no deduction or cost is claimed for any actual expenditures incurred for these purposes.
• If you are a resident individual and do not claim any actual expenditure for repair, maintenance, and depreciation of the investment asset, you can apply for this relief.
• Tax withholding requirements may apply to tenants who pay rent, depending on the specifics of the law and the type of property being rented.

It is important to consult the Inland Revenue Act or a tax professional for detailed information on how to report rental income and claim any applicable deductions or reliefs.