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Deduction under section 80gg

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 April 2018 Sir I gets HRA 5000/Month and i pay rent rs 7000/ month. Can i get any exemption or deduction under section 80GG. If yes, do i need to submit rent receipts to income tax dept.

25 April 2018 Maximum deduction allowed u/s 80GG allowed other than salary person whose component of HRA not in salary structure or component than can claim rent under 80GG for HRA received deduction claimed u/s 10(13a)least of the three.
1) Rent paid minus 10 percent the adjusted total income.
2) Rs 5,000 per month (wef F.Y. 2016-17).
3) 25 percent of the adjusted total income.

The adjusted total income means :-

Gross Total Income

Less

Long Term Capital Gain,

Short Term Capital Gain  of 10% category,

Deductions under sections 80C to 80U except section 80GG and income of foreign company.

25 April 2018 Not eligible for 80GG deduction, since you are receiving HRA.


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