In the normal scenario HRA forms part of your salary and you can claim the deduction for HRA. If you are not a receiver of HRA from your employer and make payments towards rent for any furnished or unfurnished accommodation occupied by you for your own residence, you can claim deduction under section 80GG towards rent that you pay. Here you can find 80GG Deduction Calculator in Excel Format.
80GG Deduction Calculator in Excel
Here are a few conditions that must be fulfilled:
- self-employed or salaried
- Not received HRA at any time during the year for which you are claiming 80GG
- You or your spouse or your minor child or HUF of which you are a member – do not own any residential accommodation at the place where you currently reside, perform duties of the office, or employment or carry on business or profession.
Non-eligibility:
In case you own any residential property at any place, for which your Income from house Property is calculated under applicable sections (as a self-occupied property), no deduction under section 80GG is allowed.
↓Download 80GG Deduction Autocalculation
You May Also Like This: 80G Deduction Calculator in Excel
Section 80GG Of Income Tax Act Deduction criteria :
Deduction –the lowest of these will be considered as the deduction under this section:-
- Rs 5,000 per month
- 25% of the total Income (long-term capital gain, short-term capital gain under section 111A and Income under section 115A or 115D and deductions 80C to 80U. Also, income is before making a deduction under section 80GG are to be excluded while computing this income).
- Actual Rent less 10% of Income (long-term capital gain, short-term capital gain under section 111A and Income under section 115A or 115D and deductions 80C to 80U. Also, income is before making a deduction under section 80GG are to be excluded while computing this income).