Section 80gg

This query is : Resolved

NAYAN (Querist)
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07 May 2013 Dear Sir,

i am getting salary only as basic pay and Conveyance.

should i get benefit of Section 80GG (i am not getting any HRA.)?

Rs. 2000/- P.M.

Thank you.

Anil Sankar V

Anil Sankar V (Expert)
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07 May 2013 Deduction (under sec 80GG) allowed is least of the 3 options below:
-Rs 2000 per month;
-Excess of rent paid over 10% of Adjusted total income
-25% of Adjusted total income

where, Adjusted total income:
Gross total income
LESS:
LTCG (if already included in Gross Total income)
STCG (if already included in Gross Total income)
All deductions other than the deduction under Section 80GG

Important Points regarding section 80GG:

-No deduction if you are a member of a Hindu Undivided Family (HUF), and the HUF owns a house at the place where you normally stay, work or conduct business.
You need to be paying rent, and for your own accommodation, not for your parents’ accommodation.
-You need to declare that you are paying the rent. This has to be done by filling out and filing from 10-BA.
-The house is to be situated within specified municipal areas. However, all major cities are a part of the specified municipal areas.

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