Deduction under section 80gg
This query is : Resolved
Querist : Anonymous
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.
KAVIRAJA ADDANGADI
(Expert)
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.
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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