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80GG vs 24(b)

see lee (Student) (102 Points)

26 May 2023

In 80GG assessee claim when there is no house property at the place of duty and claim rent paid

and the same assessee claim 24(b),as Sec24(b) applies only on self occupied property.

Is it not contradicting?

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 26 May 2023

If assessee is owner of property, he can claim sec. 24(b) deduction, be it rented or self owned.

But the same assessee cannot claim sec. 80GG deduction.

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see lee (Student) (102 Points)
Replied 26 May 2023

Sir the property is under construction and it is not located in his place of duty and untill it’s whole completion made rental payments can be claimed 80GG?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 26 May 2023

Yes, he can claim deduction u/s. 80GG.

For under construction property, the interest cannot be claimed till its completion, but it is accumulated. The accumulated amount can be claimed in 5 equal installments, after getting possession of the flat.

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