Deduction u/s 80GG

Individuals who are not availing House Rent allowance - can claim sec 80GG towards Rent allowance as per IT Act.

hi friend,

Section 80GG. Deductions in respect of rent paid
In computing the total income, an assessee is allowed deduction of any expenditure incurred by him in excess of ten per cent of his total income towards payment of rent for any furnished or unfurnished accommodation for his own residence, such deduction is limited two thousand rupees per month or twenty-five per cent of his total income for the year, whichever is less, if the assessee meets the folowing conditions:

1. Assessee is self employed and/or a salaried person who did not get any house rent allowance in the previous year.
2. This deduction is not available in any case where any residential accommodation is—
(i)  owned by the assessee or by his spouse or minor child or, where such assessee is a member of a Hindu undivided family, by such family at the place where he ordinarily resides or performs duties of his office or employment or carries on his business or profession; or
(ii)  owned by the assessee at any other place, being accommodation in the occupation of the assessee, for which concession for self occupied property is claimed under section 23(2)(a) or 23(4)(a).

Thanks & Regards

R Shriram

If assessee having its own house which is given on Rent and assessee is leaving on Rent, then can he avail the 80GG

assessee or his spuse or child should not own any house in \the area of employement ...

if he owns a house, and stays in another house paying rent, he cannot claim deduction...

nice query  ms. sneha,

  80GG -  Rent paid - Deduction

conditions:

1) Assessee or his spouse or minor child ..............not have any residential accommodation  in India

    or  abroad

2) Not in receipt of HRA during the PY

  so Condition 1 failed ..not avail 80GG deduction.

but i have little bit doubt ..if assessee owns shopping complex????

i think he can avail .....think

If assessee owns 1 house but ownership is in dispute and house is purchased on PAGADI system means by paying monthly rent from past many years...... then what happen??

pagadi system does not confirm the ownership, its rented accomodation.

The assessee is employed on a contract basis, and TDS is deducted thereon.

would the sec.80GG applies to him?

Dear Sir/Madam,

I am working in a propritorship fim and get gross salary Rs 2250.00 p.m They dont bifercate salary. Now my question  is, Can I get benefit for HRA as I pay HRA 3000.00 p.m also I want to know can I get Exemption u/s 10(14) (ii) for transportaion rs 800 p.m and chiled education 100 p.m

Thanks & Regards

Pintu Saha

SECTION 80-GG

1. I AM SELF EMPLOYEED

2. I DO NOT HAVE ANY PROPERTY 

3.I AM RESIDEING AT RENTAL HOUSE

4.MY SHOP IS ALSO RENTED- WHERE I WORK AS A SELF EMPLOYYED

5. I PAY 5000 SHOP RENT & PAY 3000 HOUSE RENT 

MY QNS IS THAT

1.SHOP RENT IS ALLOWABLE IN PROFIT AND LOSS ACCOUNT & HOUSE RENT IS NOT ALLOWED IN PROFIT AND LOSS ACCOUNT.

2.PLEASE SUGGEST ME ANY ONE EXPERTS THAT, HOW CAN I TAKE ADVANTAGE OF SECTION 80GG IN MY SANARIO.