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80GG 10 BA

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Karan

28 Points Posted on 24 July 2024

A lives in a rented accomodation in Jaipur for business purpose and his Mother (B) resides with him.

B has a property in Delhi which is let out on rent. And they claim IFHP on that property. Other than that they have STCG from sale of Equity.

Can B claim 80GG if they share the rent with A although their name is not on the rental agreement.

And will 10BA be mandotory.

Replies (2)

Quick Summary

This discussion explores a specific tax scenario where a mother (B), residing with her son (A) in rented accommodation in Jaipur, wishes to claim a deduction under Section 80GG. The key question is whether B can claim this deduction if her name isn't on the rental agreement, even though she shares the rent. Additionally, the query addresses whether filing Form 10BA is mandatory in this situation.

Rama chary Rachakonda

Master in Accounts & high court Advocate

7021 Points Posted on 25 July 2024

To claim deduction under Section 80GG, you need to12345: Check eligibility. Obtain rent receipts from your landlord for the rent paid during the financial year. Fill declaration form 10BA, specifying the details of the rental accommodation, the amount of rent paid, and the name and address of the landlord. Calculate deduction amount. Claim deduction in income tax return. The deduction under Section 80GG is given to the least of the following: Total rent paid minus 10% of basic salary.

Karan

28 Points Posted on 25 July 2024

Thank you for your kind reply sir. But this is generic info which I am aware in this case i was looking for a specific scenario as mentioned. Thank you never the less.