Sec 80gg
This query is : Resolved
14 July 2013
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14 July 2013
Deductions is respect of rents paid (Section 80GG):
Section 80GG allows the employee to a deduction in respect of house rent paid by him for his own residence.
Deduction available is the least of
1) Rent paid less 10% of total income
2) Rs. 2000/- per month i.e. Maximum Deduction available is 24,000/-
3) 25% of total income, provided
a) Assessee or his spouse or minor child should not own residential accommodation at the place of employment.
b) He should not be in receipt of house rent allowance.
c) He should not have self occupied residential premises in any other place.
Section 80GG allows the employee to a deduction in respect of house rent paid by him for his own residence.
Deduction available is the least of
1) Rent paid less 10% of total income
2) Rs. 2000/- per month i.e. Maximum Deduction available is 24,000/-
3) 25% of total income, provided
a) Assessee or his spouse or minor child should not own residential accommodation at the place of employment.
b) He should not be in receipt of house rent allowance.
c) He should not have self occupied residential premises in any other place.
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