Deduction

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Bbhupendra P Chauhan

Bbhupendra P Chauhan (Querist)
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18 April 2012 dear sir,
can a self employed get deduction u/s 80GG for rent paid.

tanx in advance

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 April 2012 Yes u can get subject to limits specified in the section.

CA Kishore Tallam

CA Kishore Tallam (Expert)
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18 April 2012 Yes. 80GG is for assessees who are not claiming any deduction u/s 10(13A).
But the deduction will be limited to a maximum of Rs.2000 p.m

CA Rakesh Goenka

CA Rakesh Goenka (Expert)
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18 April 2012 yes agree with above expert

Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 April 2012 Self employed person cannot get HRA deduction u/s 10(13A) and hence they can claim deduction u/s 80GG in respect of rent paid for his residence. Further deduction is allowable of amounts paid in excess of ten per cent of his total income towards payment of rent and deduction is restricted to two thousand rupees per month or twenty-five per cent of his total income for the year, whichever is less.

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