Section 80GG deducts rent paid in excess of what share of total income?
ATen percent
BFive percent
CFifteen percent
DThirty percent
Answer & Solution
Correct answer: A. Ten percent
Section 80GG allows the excess of rent over ten per cent of total income, subject to the cap.
Keep practising Aggregation of Income, Set Off of Losses and Deductions
Browse all Aggregation of Income, Set Off of Losses and Deductions questions for CA Inter, or explore more Taxation topics.
Related questions
For an individual under 80DDB, 'dependant' includes the spouse, children, parents and:For 80DDB, the deduction is reduced by amounts received from:For a senior citizen, the 80DDB limit rises to:Section 80DDB allows the amount actually paid or Rs 40,000, whichever is:A resident supports a disabled dependant and spends on treatment; the base 80DD deduction If the dependant predeceases, the 80DD deposit is:Besides spending on treatment, 80DD also covers payment into a scheme of:Section 80DD grants a deduction for expenditure on a dependant who is: