ICAI reacts to Budget 2016

ICAI Reaction Union Budget 2016 17 I Small Taxpayers Reducing income tax burden by Rs 3 000 for small tax payers by increasing rebate under section 87A Increasing deduction for rent payment under section 80GG to Rs 60 000 Introducing presumptive taxation scheme for professionals with gross receipts

Deduction allowable increased in respect of rents paid under Section 80GG

Rationalization of limit of deduction allowable in respect of rents paid under Section 80GG The existing provisions of Section 80GG provide for a deduction of any expenditure incurred by an individual in excess of ten per cent of his total income towards payment of rent in respect of any furnished o

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Experts Opinions

80gg deduction of ay 2015-16

Dear Experts I had filed my IT return for AY 2015 16 with the refund within month refund has been credited in my bank account but now i came to know i was also eligible to claim the deduction u s 80GG due to unwareness i had not claimed the same Pls tell me can i take deduction of AY 2015 16 in AY 2

Deduction 80gg

Dear seniors I am rent payer in AY 2015 16 i have not claimed deduction u s 80GG Due to unawareness however IT deptt Has credited refund amount in my bank account for the AY 2015 16 now I came to know i was also eligible for deduction u s 80GG Query can i claim 80GG deduction of AY 2015 16 in AY 201

Sec.80gg deduction

Hello My query is i had filed one income tax return in which i had taken deduction u s 80GG but not filed form 10BA related to 80GG and return has been processed so now can i filed that 10BA online or it is not compulsory to to

Is it mandatory to fill form 10ba to claim u/s 80gg ?

SIR filed income return for Ay 2016 17 claimed deduction u s 80GG Rs 2 400 without submission of form 10BA Ist it mandatory to fill form what happens if not filled

Section 80gg

How to file Form no 10BA for claiming deduction u s 80GG


Section 80gga

Our Charitable Trust as registered as section 80G For 80GGA deduction requires fresh reg Or its itself

Sec 80gg deduction

Hello Friends One of my cousin brother is running retail trade business and has turnover of 85 lacs He doesnt maintain proper books so am disclosing his income under presumptive taxation sec 44AD by declaring 8 profit My doubt is can i claim deduction of house rent he pays as deduction under sec 80G

Sec80gg and sec 10(13a)

Pranams all My doubt is regarding claim of 80GG if a person is recieving HRA from employer bear with me and all other conditions for claiming 80GG are met Is it possible he could add back the amount of HRA recieved to his salary total income without claiming 10 13A and instead claim HRA under 80GG l

Claim u.s 80gg

I am retired person and receive rent of Rs 50K from builder due to redevelopment I pay rent of Rs 17K for rented flat I claim Rs 17 K as expense and pay tax on balance amount of 34K as other income Can I also claim benefit u s 80GG

Filling up 80gg column in itr4

the actual rent I paid is Rs 188 000 the permissible deduction is 24 000 Now in the first column should I enter 188 000 the actual rent paid or 24 000 the 2nd column automatically returns 24 000 the eligibility tks in advance

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Most Ignored Section 80GG - Deductions in Respect of Rents

Section 80GG is a little ignored Section of the Income Tax Act 1961 This section provides deductions to those individuals who dont get any benefit of the amount paid towards rented accommodation by any other means of provisions of this Act If the assessee is residing in a rented accommodation he can

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Updated on : 12/5/2016 9:26:10 PM


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