House Rent Under Which Section Of Income Tax

The exemption under the house rent allowance under section 10 13a of the income tax act.
House rent under which section of income tax. The upper ceiling is 25 which means that rent paid in between 10 and 25 of the salary income is only available for deduction hra exemption. The benefit is allowed as a deduction from one s total income. As per definition under the act a.
Income from house property is one of the five heads of income under which income arising from a house property is liable to tax under the income tax act 1961. Here it can be noted that the factors like salary place of posting along with rent paid and house rent allowance received has been changed during the previous year 2018 19. Rent paid by people who are not in receipt of hra.
The maximum deduction permitted under section 80 gg is rs 60 000 per annum rs 5 000 per month. This can be claimed by self employed people as well as employees who do not receive any hra from their employers. A deduction is permissible under section 10 13a of the income tax act in accordance with rule 2a of the income tax rules.
If you don t receive hra house rent allowance but pay rent you can still get a tax deduction on the rent paid under section 80 gg of the income tax act 1961. 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.