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.
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.
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.
BANSAL YOGESH AND CO
Gautam Budh Nagar
B.Com
View Details
CCI
Pro
CAclubindia
