dedn on rent paid
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 April 2011
To,
Dear all
I am staying on rental basis, and I am a taxi driver, I am filing my income tax retrun regularly.
my question is that can i get deduction on rent i am paying, from my income.
Pl guiide me.
Dear all
I am staying on rental basis, and I am a taxi driver, I am filing my income tax retrun regularly.
my question is that can i get deduction on rent i am paying, from my income.
Pl guiide me.
CA SAURABH GARG
(Expert)
10 April 2011
Yes your are eligible to take deduction u/s 80GG on rent paid by you ,if your are not falling u/s 10(13A), as under:
Deduction in respect of Rent:
Conditins:
-Individual
-Not getting HRA
-Not have his,HUR, wife of minor child house near work place
-File declaration in Form 10BA
Quantam of Deduction allowed:
(Least of the following)
i)Excess rent paid of 10% of adjusted total inocme
ii) Rs. 2000/- PM
iii) 25% of Adjusted total Income
Deduction in respect of Rent:
Conditins:
-Individual
-Not getting HRA
-Not have his,HUR, wife of minor child house near work place
-File declaration in Form 10BA
Quantam of Deduction allowed:
(Least of the following)
i)Excess rent paid of 10% of adjusted total inocme
ii) Rs. 2000/- PM
iii) 25% of Adjusted total Income
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