As per section 80GG of the income tax act, 1961- An individual is entitled to claim deduction on the rent paid on the basis of premises occupied by him. Getting tax exemption under section 80GG ...

Section 80GG of the Income Tax Act, allows deduction to the salaried, who are not in receipt of any House Rent Allowances from their employers, and to all self employed who pay rent for any ...

As per section 80GG the Income Tax Act, 1961 (“the Act”), an individual wanting to claim a deduction can do so only if he is earning salary income or is a self-employed professional. The following are ...

If you live in a rented house but don't get House Rent Allowance (HRA) in your salary, there is no need to worry. Under Section 80GG of the Income Tax Act, you can still claim tax exemption on rent ...

NEW DELHI: The Section 80GG allows taxpayers to claim the deduction for rent paid for furnished or unfurnished accommodation occupied by the taxpayer for own residence. The claim under Section can ...

Every individual looks for an increase in the basic exemption limit to comfort his pocket, but this year’s Budget did not change the slab rates. The finance minister expressed his concern that benefit ...

A ubiquitous component of most salary slips, house rent allowance (HRA) is a benefit that even financially not-so-savvy individuals are well aware of. Consequently, the exemptions linked to HRA are ...

House rent allowance (HRA) brings down the taxable income of a salaried employee to a large extent, provided the employee stays in a rented house and receives HRA from her employer. However, an ...

My parents are retired (senior citizens). My mother purchased a 32-year-old flat from Tata group through online auction in March 2022 and spent ₹14 lakh on renovation. a) Can any depreciation be ...