80GG: Deduction where House rent is paid and HRA not received
You’re eligible for availing deduction if you don’t receive House Rent Allowance (HRA) from your employer or if you’re self-employed.
However, 80GG deduction for AY 2019-20 would not be allowed in the following cases:
- If you, your spouse, minor child or HUF of which you’re a member owns any accommodation at the place where you’re employed or doing business.
- If you own any residential house at the place other than place of your residence, then such property should not be assessed as self-occupied property.
Deduction allowed is lower of the following amount:
- Rent paid minus 10% of your adjusted total income
- 5000/- per month (as per the amendment in law)
- 25% of your adjusted total income
Download And Prepare At a Time 50 Employees Automated Income Tax Form 16 Part B (Modified Format) [This Excel Utility Prepare At a time 50 Employees Form 16 Part B 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 ( 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
4) Most easy to install just like an Excel File
5) Easy to Fill the all column
6) Automatic Convert the Amount to the In-Words