80gg
This query is : Resolved
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
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
As per the union Budget 2016 the limit of 80GG exceed to Rs 60000/-
Regards,
Kapil Verma
Founder Taxadvizer.com
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