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Deduction under section 80GG deals with deductions allowed under the Income Tax Act to taxpayers for paying house rent.
Generally, salaried employees receive House Rent Allowance as a part of their total salary.
In a few cases, employees are not entitled to HRA. In that case, if the employee is paying rent for accommodation, then he/she is entitled to avail deduction under Section 80GG for the amount of rent paid.
Table of Contents
amount of eligible deduction is the lowest of the following:
items should be deducted from total income to calculate Adjusted Total Income:
following information needs to be furnished:
There are exceptions to the deduction under section 80GG. These conditions are
needs to fill the form 10BA before filing for deduction under section 80 GG.
Contents of Form 10BA
The Form contains the following details to be
One can find form 10BA on the Income Tax department Website under the e-File Tab.
If the required conditions are met and documents are submitted, then taxpayers can earn deductions under section 80GG.
Filing deduction under this section can reduce their tax liability to a certain amount.
However, furnishing any wrong information to avail these deductions will lead to revocation of deduction allowed with an additional penalty.
Therefore, one should follow the right procedure to claim 80GG deduction and take help of professionals.
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