80GG is a deduction under Chapter VI-A of the Income Tax Act 1961. This section provides relief to those taxpayers who are not in receipt of house rent allowance (HRA) but pays rent for their residential purpose.
This document covers
The following conditions needs to be satisfied for claiming deduction u/s 80GG
The deduction will be the least of the following.
Mr Ram, a businessman, has a gross total income of Rs 460000. He is paying a rent of Rs 12000 per month. What is the amount of deduction available u/s 80GG?
As Rs 60000 is least of above, 60000 is the deduction u/s 80GG.
If the taxpayer wants to claim deduction u/s 80GG, he/she needs to submit form 10BA in Income tax e-filing portal as a supporting document. The following are the details in form 10E.
The taxpayer claiming deduction towards rent paid u/s 80GG should submit Form 10BA in Income Tax portal before ITR eFiling. Otherwise rent paid u/s 80GG will be disallowed as deduction
Sample Form No 10BA
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