WebNov 21, 2024 · One such deduction is section 80GG where taxpayers will get a deduction of the amount of rent paid during the year. This deduction is available to both Salaried … WebIf i am not receiving HRA will I get any deduction for rent paid? Yes, even if you are not receiving HRA you can claim exemption of rent paid u/s 80GG of income tax act. Under section 80GG, you can claim least of the following as tax benefit:- Rs. 60,000 per year (i.e. Rs. 5,000 per month).

Section 80GG of Income Tax Act Claim Deduction for Rent Paid

WebMaximum Deduction Limit Under 80GG of Income Tax Act Under Section 80GG, you can claim up to ₹ .60,000 per annum in case you have not received HRA at any time in a particular financial year. And, the quantum of the deduction is supposed to be the least of the following: ₹5000 per month. WebDeclaration to be filed by the assessee claiming deduction under section 80GG I/We (Name of the assessee with Permanent Account Number or Aadhaar Number) do hereby certify that during the previous year I/we had occupied the premise (full ... u/s 23(2)(a)(i) or u/s 23(2)(b). Created Date: 12/18/2024 12:17:08 PM ... hljómsveitin luxor

Read All about Deduction U/s 80C, 80CCC, 80CCD & 80D

Web‘80GG. of rents paid.—In computing the total income of an assessee, not being an assessee having any income falling within clause (13A) of section 10, there shall be deducted any expenditure incurred by him in excess of ten per cent of his total income towards payment of rent (by whatever name WebMay 7, 2024 · Deduction allowable u/s 80GG [least of (i), (ii) and (iii)] = 60,000. In case of any queries or clarification, please feel free to write us at [email protected]. Tax Updates WebNov 30, 2024 · What is Form 10BA? Form 10BA is a declaration to be filed by a taxpayer who wants to claim a deduction under section 80GG for rent paid on rental property. In order to claim deduction u/s 80GG following … hl joiners