( This Utility can prepare at a time Tax Compute Sheet + Automatic House Rent Exemption Calculation + Arrears Relief Calculation + Form 10E + Form 16 Part A&B and Part B for Govt & Non Govt Employees)
Deduction under section 80GG for house rent paid:
Deduction u/s 80GG is
available if following condition are satisfied
·
Deduction
is available to Individual Assessee only.
·
He
has not received HRA(house rent allowance ) from his employer if he is a salaried person otherwise he should be
self employed.
·
He
has paid house rent for his own residence.
·
He
or his spouse or his minor child or HUF(of which he has a member) should not
have a residential house where he ordinarily resides or performs duties of his
office or employment or carries on his business or profession;
·
He
should not have a house owned by him, which is under his occupation and value
of that is not being taken as nil under section 23(2)(a) or 23(4).
·
A
declaration on Form 10BA should be submitted .
so
if conditions are satisfied then he can claim deduction u/s 80GG for house rent
paid
Amount of deduction:
Amount of deduction:
Least of the following is deductible u/s 80GG
1.
Rs
2000 per month for the Assessment year 1987-88 onwards.
2.
25 %
of total income
3.
the
excess of actual rent paid over 10 % of total income
( This Utility can prepare at a time Tax Compute Sheet + Automatic House Rent Exemption Calculation + Arrears Relief Calculation + Form 10E + Form 16 Part A&B and Part B for Govt & Non Govt Employees)
