Sec 80gg
Deepak Patel (CA Final) (136 Points)
04 June 2016
WHETHER A PROPRITOR OF BUSINESS CAN CLAIM DEDUCTION UNDER SECTION 80GG?
2 Replies
Nishant Singla
(Chartered Accountant in Practice)
(71 Points)
Replied 04 June 2016
Yes, prop. can claim benefit of section 80GG.
Deduction shall be the lower of:
1. Rs. 2000 Per Month (Rs. 5000 Per month from AY 17-18)
2. Rent Paid-10% of total income
3. 25% of total income
total income means Income after all deductions except deduction under seciton 80GG
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