Form 10BA is a tax form used in India for declaring deductions claimed under Section 80GG of the Income Tax Act. This section allows for deductions on rent paid for residential accommodation if the individual does not own a house or if the house is not available for his use. The form is required to be submitted along with the individual's income tax return.
Details Required In Form 10BA
The details required in Form 10BA include
- Name and Permanent Account Number (PAN) of the individual
- Details of the specified expenses for which deductions are being claimed (such as rent paid for a self-occupied property or home loan interest)
- The amount of deductions being claimed
- Evidence of the expenses (such as rent receipts or home loan statements)
- A statement declaring that the conditions specified in the relevant section of the Income Tax Act have been met.
FORM NO. 10BA[See rule 11B] Declaration to be filed by the assessee claiming deduction under section 80GGI/We _____ (Name of the assessee with Permanent Account Number or Aadhaar 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 office or employment or carry on business or profession, or (b) 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) or u/s 23(2)(b) |
How to file Form 10BA online?
- Go to the Income Tax e-Filing Portal and login to your account by entering your User ID/ PAN/ TAN and password
- On the dashboard navigate to e-file > Income Tax Forms> File Income Tax Forms
- Search for Form 10BA under the category "Person not dependent on any Source of Income" and click on "File Now"
- Select the relevant assessment year and click "Continue" and on the next screen click on "Let's Get Started"
- Provide details for each selection> Click on House Property Details> Enter the required details like the Address of the rented property, Name and address of the Landlord, Details of Rent Paid etc. and click Save
- Now click on Declaration> select the check box> click Save
Preview and proceed to e-verify> select mode of e-verification and Submit> Form 10BA will be filed and e-verified successfully.
Deductions under Section 80GG
Deductions under Section 80GG of the Income Tax Act allow an individual to claim deductions for rent paid for a self-occupied property. In order to claim these deductions, the individual must not own a house and should not be living in a house owned by spouse or minor child or any other specified relative. The individual should not be entitled to HRA. The amount of deduction that can be claimed is the lower of the following:
- Rent paid in excess of 10% of total income
- 25% of total income
- Rs 5,000 per month
- The individual must submit Form 10BA along with the required documents and evidence to claim the deductions.
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