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Form 10ba

mannu (1/2 CA) (589 Points)

11 July 2012

An assesse claiming deduction u/s 80GG would required to give declaration u/s form 10BA...???

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mannu (1/2 CA) (589 Points)
Replied 11 July 2012

Extent of Deduction u/s 80GG -Lower of (a) Rs. 2,000 per month, or (b) 25% of the total income (after allowing all deductions except under this section), or (c) Expenditure incurred in excess of 10% of the total income (after allowing all deductions except under this section).

point C not cleared pls explain~

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(Guest)

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.

You can not claim deduction u/s 80GG if:

You receive HRA from your employer (or you received HRA from your current or previous employer at any time in the year)
You or your spouse or your minor child owns a house at the place (city / town / village) where you normally stay, work or conduct business
You are a member of a Hindu Undivided Family (HUF), and the HUF owns a house at the place where you normally stay, work or conduct business
You own a house at any other place and claim concessions of self-occupied house property for it (For example, tax benefit of a home loan for the house)

The amount allowed as deduction is the minimum of the following: