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80gg deduction

tharun reddy (1 Points)

21 August 2018

shall we claim 80gg for profession when we opted 44ADA

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2 Replies

prasad Nilugal (3924 Points)
Replied 21 August 2018

yes you can claim deduction under 80 gg ,rent paid excess of 10% of his total income to the extent such excess expenditure dose not exceed 5000 per month or 25% of total Income .

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CA P V N Varma (CA ) (609 Points)
Replied 21 August 2018

Yes you can claim the LEAST of the following Amount
1) 5000 pm
2) 25% of adjusted total income
3) Rent paid (minus) 10% of Adjusted total income

Here Adjusted total income means Income to exclude long-term capital gain, short-term capital gain under section 111A and Income under section 115A or 115D and deductions 80C to 80U. Also, income is before making a deduction under section 80GG.