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
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Tax Deduction for Rent for Retired Individuals
You can avail of a tax deduction for the payment of rent, subject to certain conditions:
- Your rent payment for the accommodation should be more than 10% of your income.
- No one in your family—including you, your spouse, and minor children—should own a house in the city where you are living.
- You should not be receiving House Rent Allowance (HRA) from your employer.
If these conditions are fulfilled, you will get a tax deduction under Section 80GG of the Income Tax Act of up to 25% of your income, but not exceeding Rs 2,000 a month. You will also be required to fill out Form No. 10BA along with your tax return form.
For more details, you can refer to the following link: Can a retired person get a deduction for rent - Money Today.
From India, Lucknow
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616You can avail of a tax deduction for the payment of rent, subject to certain conditions:
- Your rent payment for the accommodation should be more than 10% of your income.
- No one in your family—including you, your spouse, and minor children—should own a house in the city where you are living.
- You should not be receiving House Rent Allowance (HRA) from your employer.
If these conditions are fulfilled, you will get a tax deduction under Section 80GG of the Income Tax Act of up to 25% of your income, but not exceeding Rs 2,000 a month. You will also be required to fill out Form No. 10BA along with your tax return form.
For more details, you can refer to the following link: Can a retired person get a deduction for rent - Money Today.
From India, Lucknow
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W B Workmen's House Rent Allowance Act, 1974.pdf
Professionl Tax challan (Employee).xls