HELLO ALL,
What if the person (PROFESSIONAL income earner) has paid the rent amount is rs.96000/- p.a and the (AGTI) Adjusted Gross Total income is Rs.12 lacs, than what would be Deduction amount under section 80GG?
Since lowest of Following:
1)5000*12=60000/-
2) 25% of AGTI (i.e. 12lacs)= Rs. 300000
3) Rent Paid – 10% of AGTI (i.e 96000- 120000)= --30000
is he eligibel to claim this deduction or not.
pls guide.
CAclubindia
