Deduction u/s 80gg

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ashish bansal (Querist)
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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)

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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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

ashish bansal

ashish bansal (Querist)
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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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