27 March 2009
I am living in rented house & paying rent say 4000 pm. Also I am doing business in rented office differently & pay rent of Rs. 6000/- pm.
can i take income tax benefit on rent paying for home, just like office rent in business, if yes how ? pls suggest
28 March 2009
No you can't. rent is ur personal expenditure not related with earning any income so you can not take it credit as business rent . however i think deduction u/s 80GG shall be available, subject to the condition mentioned in section 80GG
CAclubindia
