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house rent income
income ceiling can't based on city or village....!
If there is no business income then you can claim deduction of rent u/s 80GG
is there any exemption
No other exemption availed.
Dear ketan.,
Please You can consult nearest Consultant or CA
Please You can consult nearest Consultant or CA
what is 80gg
you can't claim 80gg
your income from house property will be as below
actual rent received - 240000
less : municipal taxes - 5000 (assumption)
less: standard deduction - 70500
less: interest on borrowed capital, if any
income from house property - 165500/-
you can claim hra exemption of 6500 * 12 = 78000
your income from house property will be as below
actual rent received - 240000
less : municipal taxes - 5000 (assumption)
less: standard deduction - 70500
less: interest on borrowed capital, if any
income from house property - 165500/-
you can claim hra exemption of 6500 * 12 = 78000
I staying in same city will I get benefit of hra
No HRA exemption allowed Ramakrishnan
but I am staying on rent and will be paying tax on my house rent income
so I should be eligible for hra
also what is standard deduction
No you cant get any exemption.
Standard Deuction is deduction of 30% from H.P. income
will I get 30 % standard deduction
Yes..............
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