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HRA deduction limit raised to Rs 60,000

BT Online     February 29, 2016

The government on Monday proposed to  raise the HRA deduction under section 80 GG to Rs 60,000 per annum from the current Rs 24,000 per annum limit.

The step is a relief to house rent payers in the country.

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Elegibility for HRA deduction will now stand as below.

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1) Rent paid minus 10 percent the adjusted total income.
2) Rs 5,000 per month from the earlier Rs 2,000 per month.
3) 25 percent of the adjusted total income.

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URL for this article :
https://www.businesstoday.in/union-budget-2016-17/effect-on-pocket/budget-2016-17-hra-deduction-limit-raised-to-rs-60000/story/229668.html
 
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