80gg deduction

POSTED BY Aseef ON February 18, 2012 9:27 am COMMENTS (4)

Hi,
I am staying with wife and kid at the house of my father in law for the past 10 months . We occupy the first floor and pay rs 5000 monthly rent in cash .I receive no HRA and we dont own a house.
Am i eligible for deduction under 80gg?
If yes, as there is no receipt in this case,what proof should i submit if asked for?
Thanks….
Aseef

4 replies on this article “80gg deduction”

  1. Anshul Gupta says:

    Hi,

    I work as an employee and switched a job in a particular FY but there was a gap of 1 month between the two jobs. So, I was unemployed during that period and didn’t receive any HRA.
    However, I continued to stay in the same house and was paying rent.

    Can I get exemption for that lost month under section 80GG ?

    Regards

  2. aseefth@rediffmail.com says:

    THANKS ALL

  3. Dear Aseef. from the reply given to you be dear Manish, the minimum amount ‘ll come in all probability 2000 Rs. hence for you the tax benefit ‘ll be limited to 2000 Rs. mly or 24000 Rs. yly available for deduction from your taxable income.

    Thanks

    Ashal

  4. Aseef

    You definately qualify for 80GG and you can claim the tax deductions on the amount which will be the minimum of the following:

    a) Rent / lease amount paid less 10% of your total income
    b) Rs. 2,000 per month
    c) 25% of your total income

    You need to declare that you are paying the rent. This has to be done by filling up and filing from 10-BA.

    Manish

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