rent paid

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Querist : Anonymous

Querist : Anonymous (Querist)

24 January 2011 whether rent paid by a self employed assessee is allowed as deduction and under which section.....?

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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24 January 2011 Self employed can take deduction of rent paid u/s 80GG but there are certain conditions like he, his spouse, his minor children should not be occupied any House in the same area or near by.

please compute deduction limit.

Regards!!!

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CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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24 January 2011 Any individual can claim the deduction u/s 80GG. Irrespective of whether you are a salaried individual, or a business person, you can claim deduction under Sec 80GG.

Of course, you need to be paying rent, and for your own accommodation.

Thus, if you are paying rent for a house where your parents live, you can not claim deduction u/s 80GG. Similarly, if you are staying in a house but your spouse is paying the rent, you can not claim any deduction.

You can claim deduction for either furnished or unfurnished accommodation.

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Guest

Guest (Expert)

24 January 2011 I also agree with experts.