Deduction in respect of rent paid

This query is : Resolved

Abhishek Roy Choudhury (Querist)
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05 July 2017 Dear Sir,
An Assessee who gets pension from Bank and he is a senior citizen and he paid rent for his accommodation to his landlord. Can he get deduction for rent paid under section 80GG.

Thanks,
Abhishek.

Amol S Joglekar

Amol S Joglekar (Expert)
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05 July 2017 yes, 80GG deduction is available

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Abhishek Roy Choudhury

Abhishek Roy Choudhury (Querist)
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05 July 2017 Dear Sir,
Thanks a lot for your reply.

Amol S Joglekar

Amol S Joglekar (Expert)
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06 July 2017 you are most welcome.

Abhishek Roy Choudhury

Abhishek Roy Choudhury (Querist)
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06 July 2017 Dear Sir,
An Assessee has made monetary gift by way of cash to his son on August'2016 of Rs.8.00 Lacs and gift deed was made on November'2016. Please tell whether cash gift is allowable or not.

Thanks,
Abhishek.

Read more at: https://www.caclubindia.com/experts/deduction-in-respect-of-rent-paid-2510084.asp

Amol S Joglekar

Amol S Joglekar (Expert)
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07 July 2017 Gift is given to son.....so should not be a problem. (You need to justify, if asked for, a cash balance of such a sum with you)

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Abhishek Roy Choudhury

Abhishek Roy Choudhury (Querist)
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07 July 2017 Dear Sir,
One last query about this is that it has been notified that no cash transaction above Rs. 2.00 Lacs can be made in a single transaction from April'2017. So whether it would be of any problem.

Thanks,
Abhishek

Amol S Joglekar

Amol S Joglekar (Expert)
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07 July 2017 yes, t will be a problem....you need to be ready to give justification why you kept such a heavy cash with you

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Abhishek Roy Choudhury

Abhishek Roy Choudhury (Querist)
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07 July 2017 Dear Sir,
Thanks a lot for your reply.

Amol S Joglekar

Amol S Joglekar (Expert)
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08 July 2017 you are most welcome.....

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Deduction in respect of rent paid

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