Tony John (Chartered Accountant) (6085 Points)
30 January 2012Pls Advise:
Mr.A receives HRA from his employer and it is taken as fully taxable. He pays rent for the last 4 months of the FY.
Is he eligible for deduction under Sec 80GG ?? If so, how do we calculate the actual amount of deducton for the 4 month period ??
leeladhar
(apprentice)
(261 Points)
Replied 30 January 2012
"An assessee is entiltled to deduction in respect of 80GG if he hasn't been received HRA which qualifies for exemption under section 10(13A) of the Act."
So in this case he is not eligible to claim deduction under 80GG.
Tony John
(Chartered Accountant)
(6085 Points)
Replied 30 January 2012
But in this case, though he receives HRA, he isn't availing exemption under Sec 10(13A)
leeladhar
(apprentice)
(261 Points)
Replied 30 January 2012
The Act clearly states that "An assessee is entiltled to deduction in respect of 80GG if he hasn't been received HRA which qualifies for exemption under section 10(13A) of the Act."
It is irrespective of whether he claims exemption for HRA or not.
Here in this case it is clearly mentioned that the employee receives HRA,so he is not eligible for deduction under 80GG.
g.r.sharma
(spl assistant)
(21 Points)
Replied 29 February 2012
my son giving gift to mywife the amount which is invested in bank fds .my question is whether the income earned from this gift will be clubed in either in my hands or in the hands of my son or it will be treated independent income of my wife
CAclubindia
