Deduction
This query is : Resolved
18 April 2012
dear sir,
can a self employed get deduction u/s 80GG for rent paid.
tanx in advance
can a self employed get deduction u/s 80GG for rent paid.
tanx in advance
18 April 2012
Yes u can get subject to limits specified in the section.
18 April 2012
Yes. 80GG is for assessees who are not claiming any deduction u/s 10(13A).
But the deduction will be limited to a maximum of Rs.2000 p.m
But the deduction will be limited to a maximum of Rs.2000 p.m
18 April 2012
yes agree with above expert
18 April 2012
Self employed person cannot get HRA deduction u/s 10(13A) and hence they can claim deduction u/s 80GG in respect of rent paid for his residence. Further deduction is allowable of amounts paid in excess of ten per cent of his total income towards payment of rent and deduction is restricted to two thousand rupees per month or twenty-five per cent of his total income for the year, whichever is less.
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