WHO ARE NOT GET HOUSE RENT FROM HIS EMPLOYER, HE CAN CLAIM HOUSE RENT EXEMPTION U/S 80GG
Section 80GG
The
The tax Deduction amount under 80GG is Rs 60,000 per annum. Section 80GG is
applicable to all those individuals who do not own a residential house
& do not receive HRA (House Rent Allowance).
The extent of tax deduction will be limited to the least amount of the following;
- Rent paid minus 10 percent of the adjusted total income.
- Rs 5,000 per month.
- 25 % of the total income.
(If you are claiming HRA (House
Rent Allowance) of more than Rs 50,000 per month (or) paying rent which
is more than Rs 50,000 then the tenant has to deduct TDS @ 5%. It has
been proposed that the tax could be deducted at the time of credit of
rent for the last month of the tax year or last month of tenancy, as
applicable.)
Download And Prepare At a Time 50 Employees Automated Income Tax Form 16 Part B With Form 12 BA (Modified Format) [This Excel Utility Prepare At a time 50 Employees Form 16 Part B With Form 12 BA in New Format for A.Y. 2020-21]
The main feature of this Excel Utility:-
1) Prepare At time 50 Employees Excel Based Form 16 Part B With Form 12 BA ( Modified Format of Form 16 Part B Vide CBDT Notification No.36/2019 Dated 12/04/2019 ]
2) All the Amended Income Tax Section have in this utility as per Budget 2019
3) You can print individual Form 16 Part Part B with Form 12 BA
4) Most easy to install just like an Excel File
5) Easy to Fill all column
6) Automatic Convert the Amount to the In-Words