Are getting worried about your tax when H.R.A. not given by organisation even you on rent . Don't worry you can avail deduction in case of non availability of H.R.A.
Here are the some key points that we all need to know about:
1.) Rent Payment Deduction : If in any previous year assesses paid any sum of amount towards rent for his own residence and in absence of non falling of income in mode of H.R.A, he is allowed to get deduction up to 60,000 rs in A Yr in Sec 80GG of Income Tax Act(subject to certain condition).
Condition to avail :
Rental Expenditure : Must be for own residence
Payment : Either cash or other Mode
Applicability : Assesses who did not receive any income by way of HRA
Amount of Ded. : Max 60,000 per year (on the basis of calculation)
Docs Required : Form 10BA Declaration Required
Impact : Other residence which you could not able to occupied
due to job in other location will be assumed as on nil
23(2)(b) section of income tax act.
Resolution : Even if not receiving H..R.A. you can claim deduction
of rent paid up to 60,000 Rs. but which one you could
occupied due to job in other location will be assumed as
on nil 23(2)(b) section of income tax act.
For more details you may consult me any time
SIYA Consultancy Services
UG 4, Near Dashmesh Public School, Shalimar Garden, Ghaziabad, UP-201005
Contact No: +91-9625153310, Website : www.siyaconsultancy.com
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