80gg [Resolved] | Income Tax #1385084

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2013 Dear Sir,
An assessee, whose parents house is in Mumbai, but that assessee has to set up his business in Pune. Whether the said assessee can avail the benefit of section 80gg for rented house in Pune
or
He can not go for it because of his parents house in Mumbai.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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28 July 2013 Sec.80GG can be claimed by the assessee who is not receiving any HRA in salary and self employed , paying rent expenses

so if you are fulfilling these conditions you can claim Sec.80GG

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2013 But this section also ask about any other residential property of assessee or his family. Whether the parents house will also consider for the same.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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28 July 2013 Yes. as per section assessee should not have any own house at where his/her working place or business place.

since your business place at Pune, there you are not own any property then you are eligible for deduction u/s. 80GG

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2013 For the above purpose, whethre the rent recipts are sufficient or assessee has to arrange any other paper formality for the same?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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28 July 2013 Rent receipt with agreement is required. along with that Form 10BA required to be filled.

all the papers including Form 10BA,make it ready and keep with you incase while assessment, assessing officer demands same need to be produced

No need to attache Form 10BA along with return. just make it and keep for records with you

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