80gg

This query is : Resolved

Karishma (Querist)
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29 February 2016 I have one house property.. which is let out and I receive rent for it and I am living in another house where I pay rent. can I net off my rent paid and claim deduction under 80GG for rent paid in excess of rent received

CA Kapil Verma

CA Kapil Verma (Expert)
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29 February 2016 No, rent received will be tax under the Head of Income form house property and rent paid will be deducted under 80GG upto Rs 24000/-

As per the union Budget 2016 the limit of 80GG exceed to Rs 60000/-

Regards,
Kapil Verma
Founder Taxadvizer.com