28 October 2014
1. Section 80GG provides a deduction in respect of rent paid. The deduction is available to a self employed individual or a salaried individual NOT receiving HRA from his employer.
The deduction allowed is LOWER of the following: Rs. 2,000/- per month,or 25% of total income.
2. Section 80GGB provides a deduction in respect of contributions given by companies to political parties.
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