Deduction u/s 80gg
This query is : Open
26 July 2011
if an assessee lived in his own house for 7 months during the financial year. after 7 months he sold that house and lived in a rented house for 5 months.
in this case, is the assessee eligible to claim deduction u/s 80GG.
If yes, how this shall be computed in this case (as he lived in the rented house for part of year)
in this case, is the assessee eligible to claim deduction u/s 80GG.
If yes, how this shall be computed in this case (as he lived in the rented house for part of year)
26 July 2011
yes. you are eligible to claim sec.80GG, Since the 80GG basic conditions asseessee should not have any own house property, so you can claim for 5 months
27 July 2011
then, the 10% or 25% of the total income shall be taken as of actual total income or it shall also be proportionate to 5 months?
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