deduction of 80gg
This query is : Resolved
BALASUBRAMANYA B N
(Expert)
03 February 2010
Expenditure in excess of 10% of total income incurred by an assessee (not in receipt of house rent allowance) on payment of rent in respect of residential accomodation occupied by him for his own residence is allowed deduction upto Rs. 2,000- per month or 25% of total income, whichever is less.
CMA Ramesh Krishnan
(Expert)
03 February 2010
Dear Manoj
Sec.80GG deductions available for self employed and employed but not receiving any House rent allowance from the employer.
for getting exemption you need to file form 10BA with AO whenever necessary
Amount of deduction lease of the above
1.Rs.2000 p.m
2.25 % of total income
3.Actual rent paid - 10 % of total income
Sec.80GG deductions available for self employed and employed but not receiving any House rent allowance from the employer.
for getting exemption you need to file form 10BA with AO whenever necessary
Amount of deduction lease of the above
1.Rs.2000 p.m
2.25 % of total income
3.Actual rent paid - 10 % of total income
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