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Rental Agreementst.
Assessee staying in the rent premise and rental agreement made in the name of Trust. is it allowable deduction while doing computation?
Replies (1)
Claiming a tax deduction for rent paid by a Trust is generally not allowable for an individual. Rent deductions (like HRA or Section 80GG) require the agreement to be in the individual's name and the payment to be made by them. Using a Trust-owned or Trust-rented premise for personal residence may create complex tax liabilities rather than providing deductions. You should consult a tax professional to restructure the agreement or your compensation package properly.
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