80GG Deduction of House Rent
80GG Deduction of House Rent
Section 80GG allows the Individuals to a deduction in respect of house rent paid by him for his own residence. Such deduction is permissible subject to the following conditions :-
(a) the Individual has not been in receipt of any House Rent Allowance from his employer specifically granted to him which qualifies for exemption under section 10(13A) of the Act;
(b) the Individual files the declaration in Form 10BA
(c) The employee does not own:
(i) any residential accommodation himself or by his spouse or minor child or where such Individual is a member of a Hindu Undivided Family, by such family, at the place where he ordinarily resides or performs duties of his office or carries on his business or profession; or
(ii) at any other place, any residential accommodation being accommodation in the occupation of the Individual, the value of which is to be determined under Section 23(2)(a) or Section 23(4)(a) as the case may be.
(d) He will be entitled to a deduction in respect of house rent paid by him in excess of 10% of his total income, subject to a ceiling of 25% thereof or Rs. 2,000/- per month, whichever is less. The total income for working out these percentages will be computed before making any deduction under section 80GG. In other word eligibility will be least amount of the following :-
(See rule 11B)
DECLARATION TO BE FILED BY THE ASSESSEE
CLAIMING DEDUCTION U/S 80 GG
I/We………………………………………………………………………………………….
(Name of the assessee with permanent account number)
do hereby certify that during the previous Year…………..I/We had occupied the premise…………..(full address of the premise) for the purpose of my/our own residence for a period of………..months and have paid Rs……………….. In cash/through crossed cheque, bank draft towards payment of rent to Shri/Ms/M/s……….(name and complete address of the landlord).
It is further certified that no other residential accommodation is owned by
(a) me/my spouse/my minor child/our family (in case the assessee is HUF), at ……………..where I/we ordinarily reside/perform duties of officer or employment or carry on business or profession, or
(a) me/us at any other place, being accommodation in my occupation, the value of which is to be determined u/s 23(2)(a)(i) of u/s 23(2)(b).
