House Rent Comes Under Which Section Of Income Tax

Can i elegible to deduction of house rent under section 80gg.

House rent comes under which section of income tax. The first condition is that you should actually be paying rent for a residential accommodation occupied by you. Rs 5 000 per month. Subject to certain conditions a part of hra is exempted under section 10 13a of the income tax act 1961.

You are entitled to tax exemption under section 10 13a of the income tax act with respect to the hra received by you subject to certain limits and conditions. The hra deduction is based on salary hra received the actual rent paid and place of residence. As per this section a taxpayer can claim lowest of the following three as deduction towards house rent payment.

However in such a situation one can tax deduction on house rent paid under section 80gg of the i t act. February 9 2017 at 12 20 pm m. You can claim exemption on your hra under the income tax act if you stay in a rented house and get a hra from your employer.

Actual rent paid minus 10 of income. Section 80gg income tax act 1961 2014. Extract of section 80gg.

25 of adjusted total income. A deduction is permissible under section 10 13a of the income tax act in accordance with rule 2a of the income tax rules. Further you can also file tds returns generate form 16 use our tax calculator software claim hra check refund status and generate rent receipts for income tax filing.

I have been transferred to the location which is 45 km away from the location where my home is situated but my office comes in different district and homes in another.