Taxation Exam > Taxation Videos > Income Tax for assessment (Inter Level) > 80GG. Deduction in Respect of Rent Paid
80GG. Deduction in Respect of Rent Paid Video Lecture | Income Tax for assessment (Inter Level) - Taxation
|
405 videos|72 docs
|
FAQs on 80GG. Deduction in Respect of Rent Paid Video Lecture - Income Tax for assessment (Inter Level) - Taxation
| 1. What is Section 80GG of the Income Tax Act? |  |
Ans. Section 80GG of the Income Tax Act allows individuals to claim a deduction in respect of the rent paid for their accommodation if they do not receive any house rent allowance (HRA) from their employer.
| 2. Can anyone claim deduction under Section 80GG? | |
Ans. No, not everyone can claim a deduction under Section 80GG. Only individuals who fulfill certain conditions, such as not receiving HRA and not owning a residential property in the location where they are employed or doing business, are eligible to claim this deduction.
| 3. How much deduction can be claimed under Section 80GG? | |
Ans. The deduction under Section 80GG is calculated as the least of the following three amounts:
1. Rent paid minus 10% of the total income
2. Rs. 5,000 per month
3. 25% of the total income
| 4. Can a self-employed person claim deduction under Section 80GG? | |
Ans. Yes, self-employed individuals can claim a deduction under Section 80GG, provided they meet the conditions mentioned earlier. They must not receive HRA and must not own a residential property in the location where they are conducting their business.
| 5. Is there any documentation required to claim deduction under Section 80GG? | |
Ans. Yes, individuals claiming a deduction under Section 80GG need to submit Form 10BA along with their income tax return. This form requires details such as the name and address of the landlord, landlord's PAN (if available), and the amount of rent paid. It is essential to maintain proper rent receipts and other relevant documents as proof of payment.
Related Exams
About this Video
|
Nov 16, 2024 Last updated |
Video Description: 80GG. Deduction in Respect of Rent Paid for Taxation 2024 is part of Income Tax for assessment (Inter Level) preparation.
The notes and questions for 80GG. Deduction in Respect of Rent Paid have been prepared according to the Taxation exam syllabus.
Information about 80GG. Deduction in Respect of Rent Paid covers all important topics for Taxation 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for 80GG. Deduction in Respect of Rent Paid.
Introduction of 80GG. Deduction in Respect of Rent Paid in English is available as part of our Income Tax for assessment (Inter Level) for Taxation & 80GG. Deduction in Respect of Rent Paid in
Hindi for Income Tax for assessment (Inter Level) course. Download more important topics related with notes, lectures and mock test series for
Taxation Exam by signing up for free.
Description
Video Lecture & Questions for 80GG. Deduction in Respect of Rent Paid Video Lecture | Income Tax for assessment (Inter Level) - Taxation - Taxation full syllabus preparation | Free video for Taxation exam to prepare for Income Tax for assessment (Inter Level).
Information about 80GG. Deduction in Respect of Rent Paid
Here you can find the meaning of 80GG. Deduction in Respect of Rent Paid defined & explained in the simplest way possible.
Besides explaining types of 80GG. Deduction in Respect of Rent Paid theory, EduRev gives you an ample number of questions to practice 80GG. Deduction in Respect of Rent Paid tests,
examples and also practice Taxation tests.
|
405 videos|72 docs
|
|
Explore Courses for Taxation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
study material
,80GG. Deduction in Respect of Rent Paid Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,shortcuts and tricks
,ppt
,Summary
,Previous Year Questions with Solutions
,past year papers
,mock tests for examination
,80GG. Deduction in Respect of Rent Paid Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,80GG. Deduction in Respect of Rent Paid Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,Exam
,Sample Paper
,Important questions
,practice quizzes
,Extra Questions
,Objective type Questions
,video lectures
,Free
,Viva Questions
,MCQs
,Semester Notes
;
Study 80GG. Deduction in Respect of Rent Paid on the App
Students of Taxation can study 80GG. Deduction in Respect of Rent Paid alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the 80GG. Deduction in Respect of Rent Paid,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of 80GG. Deduction in Respect of Rent Paid is prepared as per the latest Taxation syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup