Deduction U/s 80GG will allowed.
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SECTION 80GG
sir u r ryt...but with section 80 GG.. form 10BA declaration have to be filled... in that form what amount should be entered... total amount paid to landlord or 10% amount of adjusted total income entered under section 80GG
Form 10BA is a declaration to be filed by a taxpayer who wants to claim deduction under section 80GG for rent paid on rental property. In order to claim deduction u/s 80GG following two conditions should be satisfied:
- The taxpayer should not be receiving HRA (House Rent Allowance) from employer.
- The taxpayer, his spouse, minor child or if assessee is a member of HUF, then the HUF should not own any slef occupied residential accommodation.
If both the above conditions are satisfied, then taxpayer can submit a declaration in Form 10BA.
Steps:
Assessee has to submit Form 10BA online from his/her e-filing account on IT Department website. Here are the steps to file Form-10BA
- Log in to e-filing account on IT Department webiste.
- Navigate to e-file > Prepare and Submit Online Form (Other than ITR)
- Select FORM NO. 10BA from the drop down and select the relevant Assessment Year
- Enter the details, preview and submit
Amount of rent paid should be fillied in form 10 BA.
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