Get Tax Benefit on rent paid if not getting HRA in Section 80GG Deduction, with Automated All in One TDS on Salary for F.Y.2017-18

All salaried are very much familiar with HRA and how to get the benefit of the rent they pay. However, what about those who not get HRA in their salary or for self employed? Will they still get rent benefit? The answer to both the questions is Section 80GG of Income Tax.

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So as I said above this section only applies to those who have not availed HRA in their salary or not claiming the deduction on their rent in any of the other sections of income tax.  Below are a few conditions to avail the deduction under this section.

1. This section is only applicable to Individual or HUF.
2. Tax Payer may be either salaried or a self-employed. However, must not be getting HRA.
3. Tax Payer himself or spouse/Minor Child/HUF of which he is a member should not own any accommodation at a place where he is doing a job or business.
4. If Tax Payer owns house at a place other than the place noted above, then the concession in respect of self occupied property is not claimed by him [Under Section 23 (2) (a) or 23 (4) (a)].
5. Tax Payer has to file a declaration in Form No.10BA regarding the expenditure incurred by him towards the payment of rent.

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How much amount of deduction one can avail under Sec. 80GG?

If the above five conditions are satisfied, the amount deductible under Section 80GG is LEAST OF THE FOLLOWING.

• Rs.5, 000 per month;
• 25% of total income of taxpayer for the year; or
• Rent Paid less 10% of total income (Rent Paid-10% of Total Income).

What is total income for the purpose of Sec. 80GG?

We can calculate it as below.

Total Income=Gross Total Income-LTCG-STCG-Income referred under the Sec.115A-Amount deductible under Sec.80C to 80U (except Section 80GG)

Let us try with one example-

Mr. X’s total income (calculated as per above formula) is Rs.4, 00,000. He pays an annual rent of Rs.1, 50,000. Then least of the below will be applicable for deduction under Sec. 80GG.

• Rs.60, 000 per year.
• Rent Paid-10% of Total Income=Rs. 1,50,000-Rs.40,000=Rs.1,10,000.
• 25% of Total Income i.e Rs.1, 00,000.

So least of the above will be Rs.60, 000, which one can claim under Section 80GG for that particular FY.

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Auto fill Income Tax All in One TDS on Salary for Government & Private Employees for F.Y.2017-18

Auto fill Income Tax All in One Income Tax Preparation Excel Based Software for the Financial Year 2017-18 & Ass Year 2018-19. As the Tax Slab has already changed by the CBDT in the recent Finance Budget 2017, some of employee can get relief as the lower tax slab is 5% instead of 10% who's Taxable Income Rs. 5 Lakh.

By this Finance Budget it is also appear that the Tax Rebate U/s 87 A Rs. 2,500/- as the previous financial year was Rs. 5,000/. One employee can get the Tax Rebate U/s 87 Rs. 2,500/- if his taxable income not above Rs. 3.5 Lakh. 

The Income Tax Slab for the Financial Year 2017-18 as :-

Most of the Government Concerned and Private (Non-Govt) Concerned have different Employees Salary Pattern and different type of Income and Deduction. 

Given below the Excel Based Income Tax Preparation Software can prepare both of Government and Non-Government Employees Income Tax Perfectly, with the Salary Structure for Government & Private Employees Salary Pattern.

The Main Feature of this Excel Utility :-

• Automatic Income Tax Calculate as per new Tax Slab for F.Y.2017-18
• Automated Individual Salary Structure for both of Govt & Non- Govt Employees
• Automatic Calculate House Rent Exemption Calculation U/s 10(13A)
• Automatic Calculate Arrears Relief Calculation including Form 10E up to F.Y.2017-18
• Automatic Prepare Income Tax Modified Form 16 Part A&B for F.Y.2017-18
• Automatic Prepare Income Tax Modified Form 16 Part B for F.Y. 2017-18
• Easy to install in any Computer.
• Any one can Generate this Utility
• Automatic Convert Amount in to the In-Words

Download this Unique Excel Utility All in One for Government & Non-Government Employees for F.Y.2017-18

Main Input Sheet

Tax Computed Sheet

Salary Structure for both of Govt & Non-Govt Employees

Arrears Relief Calculation Sheet up to 17-18

Modified Income Tax Form 16 Part B

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Tax Relief Under Chapter VI A with All in One TDS on Salary for F.Y.2017-18 in the New Tax Slab for F.Y.2017-18

Click here to Download All in One for Non Govt Employees for F.Y.2017-18 [ This Excel utility can prepare at a time Tax Computed Sheet + Individual Salary Sheet + Individual Salary Structure + Automatic H.R.A. Calculation U/s 10(13A) + Automated Form 16 Part A&B and Form 16 Part B in the New Tax Slab with Amended All Tax Section for F.Y.2017-18]

All about Under Section Chapter VIA :-

As per the Income Tax Rules the all deduction Under Chapter VI A with the all current amended Section of Income Tax which was passed by the Central Finance Budget 2017 have also in this Chapter and showing the same is given below, so you can guess the which Section you can get the Income Tax benefits.

In this Article you can find another Excel Based Software TDS on Salary for the Financial Year 2017-18.

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Deduction Under chapter VI A is given bwlow:-

Section 80D: Deduction in respect of Medical Insurance

Deduction is available up to Rs. 30,000/- for senior citizens and up to Rs. 25,000/ in other cases for insurance of self, spouse and dependent children. Additionally, a deduction for insurance of parents (father or mother or both) is available to the extent of Rs. 30,000/- if parents are senior Citizen and Rs. 25,000/- in other cases.

Therefore, the maximum deduction available under this section is to the extent of Rs. 55,000/-. From AY 2017-18, within the existing limit a deduction of up to Rs. 5,000 for preventive health check-up is available.

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Section 80DD: Deduction in respect of Rehabilitation of Handicapped Dependent Relative

Deduction of Rs. 60,000/- is available on:

1  .     expenditure incurred on medical treatment, (including nursing), training and rehabilitation of handicapped dependent relative.

2  .     Payment or deposit to specified scheme for maintenance of dependent handicapped relative.

Further, if the dependent is a person with severe disability, a deduction of Rs. 100,000/- is also available under this section. The handicapped dependent should be a dependent relative suffering from a permanent disability (including blindness) or mentally retarded, as certified by a specified physician or psychiatrist.

Note: A person with 'severe disability' means a person with 80% or more of one or more disabilities as outlined in section 56(4) of the 'Persons with disabilities (Equal opportunities, protection of rights and full participation)' Act.

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Section 80DDB: Deduction in respect of Medical Expenditure on Self or Dependent Relative

A deduction to the extent of Rs. 40,000/- or the amount actually paid, whichever is less is available for expenditure actually incurred by resident assessee on himself or dependent relative for medical treatment of specified disease or ailment. The diseases have been specified in Rule 11DD. A certificate in form 10 I is to be furnished by the assessee from any Registered Doctor.

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Section 80G: Deduction for donations towards Social Causes

The various donations specified in Sec. 80G are eligible for deduction up to either 100% or 50% with or without restriction as provided in Sec. 80G. 80G deduction not applicable in case donation is done in form of cash for amount over Rs 10,000.

Donations with 100% deduction without any qualifying limit:

• Prime Minister’s National Relief Fund
• National Defence Fund
• Prime Minister’s Armenia Earthquake Relief Fund
• The Africa (Public Contribution - India) Fund
• The National Foundation for Communal Harmony
• Approved university or educational institution of national eminence
• The Chief Minister’s Earthquake Relief Fund, Maharashtra
• Donations made to Zila Saksharta Samitis.
• The National Blood Transfusion Council or a State Blood Transfusion Council.
• The Army Central Welfare Fund or the Indian Naval Benevolent Fund or The Air Force Central Welfare Fund.

Donations with 50% deduction without any qualifying limit.

• Jawaharlal Nehru Memorial Fund
• Prime Minister’s Drought Relief Fund
• National Children’s Fund
• Indira Gandhi Memorial Trust
• The Rajiv Gandhi Foundation

Donations to the following are eligible for 100% deduction subject to 10% of adjusted gross total income

Donations to the Government or a local authority for the purpose of promoting family planning.

Donations to the following are eligible for 50% deduction subject to 10% of adjusted gross total income

Donation to the Government or any local authority to be utilized by them for any charitable purposes other than the purpose of promoting family planning.

Section 80U: Deduction in respect of Person suffering from Physical Disability

Deduction of Rs. 75,000/- to an individual who suffers from a physical disability (including blindness) or mental retardation. Further, if the individual is a person with severe disability, deduction of Rs. 125,000/- shall be available u/s 80U. Certificate should be obtained from a Govt. Doctor. The relevant rule is Rule 11D.

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