80GG includes what?
This query is : Resolved
29 January 2010
What does section 80GG include?
What is Adjusted Net Income?
Thank You.
What is Adjusted Net Income?
Thank You.
29 January 2010
80GG is for deduction for rent
if a person resides in a rented home and he never get HRA in current F.Y. and he his spouse or child have no house at that place where he is working then he can claim least of belwo:
1 2000 p.m.
2 25% of total income
3 excess of rent paid over 10% of total income
Total income is calculated after excluding LTCG, STCG u/s 111A and deduction after 80C to 80U
if a person resides in a rented home and he never get HRA in current F.Y. and he his spouse or child have no house at that place where he is working then he can claim least of belwo:
1 2000 p.m.
2 25% of total income
3 excess of rent paid over 10% of total income
Total income is calculated after excluding LTCG, STCG u/s 111A and deduction after 80C to 80U
29 January 2010
agree
13 February 2010
o wow!!! thanks a lot
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