Income tax

vignesh iyer (student) (64 Points)

08 November 2012  

 MY ONE OF THE QUERY IS WHEN AN EMPLOYEE GETS A BENEFIT U/S 17(2) OF INCOME TAX ACT i.e PERQUISITE IN RESPECT TO RENT CAN HE CLAIM EXEPTIONS U/S 80GG OF THE ABOVE STATUTE. FOR EG- CONSIDER A PERSONS TOTAL INCOME IS 250000 RENT FREE ACCOMODATION 60000 RENT RECOVERED FROM EMPLOYEE 30000 (all are per annum) CAN NOW THE  EMPLOYEE GET EXEMPTION FOR 30000  U/S 80GG .