Income tax exemption without HRA

Ree Gdv 1
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I am getting an aggregate salary of 289867/- I am paying house rent 96000/- per year LIC of 20,000/- Employees PF of 9360/- What will be my tax for the year 2011-12

section-80gg tax-deduction house-rent-allowance income-tax
1 Answers

You can claim benefit for house rent paid under section 80GG, even if your salary structure does not contain this amount.

There are some conditions for this claim:

  1. It should be occupied by you.
  2. Your spouse/parents should not be paying rent for this house.
  3. You or your spouse should not be owning a house in same city.
  4. You should not be owning house at any other place for which you claim home loan benefit.
  5. Deduction cannot exceed a. Rs 2000 per month, b. rent paid - 10% of total income, and c. 25% of total income.

You can claim maximum 24000 deduction for house rent paid as per section 80GG.

Regarding income tax, you can download income tax calculator and compute tax yourself.

Pankaj Batra5212
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