LIVE GST Certification Course by CA Arun Chhajer begins 21st April. Register Now!!

Section 80gg

ASHA KAMATH (Finance Professional) (44 Points)

14 March 2013

I am working for a finance company and processing loan applications and ITR's

In some ITR 's I find that after arriving at Income figure,they deduct Rs.24000 under section 80GG

Is this exemption available only for salaried or even to businessmen also

Reply
Follow
Share

2 Replies

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
Replied 14 March 2013

Asha,

It is applicable for those salaried individuals who do not have house rent allowance component in their salary and those non salaried individuals who have income from any sources.

Regards,

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 20 March 2013

Yes any individual whether salaried/employed can claim this deduction. However employees who do not receive HRA from their co and are staying in rented premises can claim dedction u/s 80GG instead of claiming exemption u/s 10(13A)