Rent amount deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2016 I have form 16A for 194J. i want to file it return in ITR4, but i have to get deduction of rent paid by me, so please guide me where Deduction Amount t be captured & how to file return.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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14 June 2016 What kind of rent paid by you and for what ??

Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2016 Room Rent paid mothly for Rs.15000/-

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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14 June 2016 Is it Professional Fees related expense or it is personal Expense ??

Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2016 Its Personal Expenses paid by me only/-

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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14 June 2016 No it will not consider as your professional expense so you can't take as deduction or put that as expense in your ITR. you have to take your Fees income as your professional income and take expense what occurs for that service and fill the details of deduction in Chapter VIA and calculate tax on it. If tds amount will excess then tax then you can claim refund of that excess amount.

Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2016 Let me know i can get the deduction or not????

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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14 June 2016 No you can't get deduction of personal expense. It is available for salary employee only.

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Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2016 Thanks for your quick reply
Can I file return in ITR1 or ITR2

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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14 June 2016 For Professional Income you have to file ITR4 or ITR4s.

Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2016 Any other way to get deduction because I am getting the loss of 20k

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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14 June 2016 Please give details information of your work income and loss so that I can give you exact reply for your query

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Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2016 I am working Red Chillies Entertainment. i paying the rent rs.15000/- staying in mumbai. Annual Salary 4,33 Lakhs & Deducted TDS 43 Thousand.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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14 June 2016 If your tds deducted u/s 194J then you are not salary employee for Red Chillies Entertainment. They have hired you as professional and pay you as professional fees. So that you can't take house rent expense as deduction but any other expense is available as professional expense then you can go ahead and book expense.
if you employee and received salary then only you can get deduction u/s 10(13A) as HRA deduction for paying Housing rent against HRA received from employer.
If your income from professional fees is Rs. 4,33,000/- and if deduction is NIL and tds deducted is Rs. 43000/- then also you will get refund of near around Rs. 26000/- .