Section 80GG of Income Tax Act "Deductions in respect of rents paid"
80GG. In computing the total income of an assessee, not being an assessee having any income falling within clause (13A) of section 10, there shall be deducted any expenditure incurred by him in excess of ten per cent of his total income towards payment of rent (by whatever name called) in respect of any furnished or unfurnished accommodation occupied by him for the purposes of his own residence, to the extent to which such excess expenditure does not exceed five thousand rupees per month or twenty-five per cent of his total income for the year, whichever is less, and subject to such other conditions or limitations as may be prescribed, having regard to the area or place in which such accommodation is situated and other relevant considerations :
Provided that nothing in this section shall apply to an
assessee in any case where any residential accommodation is-
(i) owned by the assessee or by his spouse or minor child
or, where such assessee is a member of a Hindu undivided
family, by such family at the place where he ordinarily
resides or performs duties of his office or employment or
carries on his business or profession; or
(ii) owned by the assessee at any other place, being
accommodation in the occupation of the assessee, the value
of which is to be determined under clause (a) of sub-section
(2) or, as the case may be, clause (a) of sub-section (4) of
section 23.
Explanation.-In this section, the expressions "ten per cent
of his total income" and "twenty-five per cent of his total
income" shall mean ten per cent or twenty-five per cent, as
the case may be, of the assessee's total income before
allowing deduction for any expenditure under this section.
What is Deduction in respect of health insurance premia? Section 80D of Income Tax Act 1961
What is Deduction in respect of medical treatment, etc? Section 80DDB of Income Tax Act 1961
Section 80EEA Deduction in respect of interest on loan taken for certain house property
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What is Deductions in respect of rents paid? Section 80GG of Income Tax Act 1961