How to claim tax deduction benefit under 80 GG for rent paid in absence ...

How to claim tax deduction benefit under 80 GG for rent paid in absence of HRA(Live)



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Under Sec. 80GG of the Income-tax Act in respect of those who are not getting house rent allowance (HRA), deduction from total income is allowed as:

(a) rent paid less 10 per cent of taxable income

                                      or

 (b) 25 per cent of the taxable income

                                        or

(c) rent at Rs.2,000 a month - WHICHEVER IS LEAST







Following conditions must be satisfied



(1) Deduction under 80 GG for rent paid is only available to individual or HUF



(2) The tax payer is either self employed or salaried but does not get anay benefit of deduction under section 10(13A) for House Rent Allowance



(3) The tax payer himself or his spouse or minor chiild , or huf , of which he is member should not own any accomodation at the place where he is employed or carries on business or profession



(4) If the taxpayer owns property at any place other than the place mentioned above , he should not be claiming benefit of that property as self occupied .



That other property would be deemed to be let out



If the taxpayer is claiming benefit under section 80 GG , then he is required to furnish declaration in form 10 BA that he satisfies all conditions .