Chetan Chauhan
Quick Summary
Form 10BA is a tax form used in India for declaring deductions claimed under Section 80GG of the Income Tax Act. This section allows for deductions on rent paid for residential accommodation if the individual does not own a house or if the house is not available for his use. The form is required to
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FAQ :
Form 10BA is used in India to declare deductions claimed under Section 80GG of the Income Tax Act, which allows for deductions on rent paid for residential accommodation.
Individuals are eligible if they do not own a house, do not have a house available for their use, and meet other conditions specified in Section 80GG, such as not receiving House Rent Allowance (HRA).
You'll need your name and PAN, details of rent paid, the landlord's information, the amount of deduction claimed, and evidence like rent receipts, along with a declaration that the conditions of Section 80GG are met.
You can file Form 10BA online by logging into the Income Tax e-Filing Portal, navigating to e-file > Income Tax Forms, searching for Form 10BA, and following the prompts to enter property and rent details, make a declaration, and e-verify the submission.
The deduction is the lowest of: rent paid minus 10% of total income, 25% of total income, or Rs 5,000 per month. You must submit Form 10BA with supporting documents to claim this.
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