Rent Deduction U/s 80GG Utility
Section 80GG, of Income Tax Act 1961-2020
An assessee not being person claiming deduction of House Rent Allowance (HRA) or by whatever name its called u/s 10(13A) is eligible to claim deduction under this section.
Conditions to be met for this deduction :
- Assessee or his spouse or minor child or any member of HUF of which the assessee is part of doesn’t own a house property at a place where he perform his duties of his office or employment, or carries his own business.
- If the assessee himself is the owner of the property
Deduction to be calculate as follows:
Least of the following
- Rent paid less 10% of Total Income.
- Maximum of Rs 5000 p.m,
- 25% of Total Income.
A excel utility is attached for your calculate easily
Anup Nair – email id : [email protected]
