No Tags Found!

joshikd10
I am retired gov employee drawing pension. I am currently staying in rented house. How can I avail tax rebate against house rent which I pay? Or am I eligible to get tax rebate against rent paid?
From India, Tumk%u016Br
pon1965
604

Taken from the following link.
Can a retired person get deduction for rent - Money Today
you can avail tax deduction for payment of rent subject to certain conditions. Firstly, your rent payment for the accommodation should be more than 10% of your income. Secondly, no one in your family— including you, your wife and minor children—should own a house in the city where you are living. Thirdly, you should not be receiving HRA from your employer. If these conditions are fulfilled, you will get tax deduction under Section 80 GG of the Income Tax Act of up to 25% of your income but not exceeding Rs 2,000 a month. You shall also be required to fill form no 10BA along with your tax return form.

From India, Lucknow
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.