Rent deduction for individuals without house rent allowance reduces taxable income for qualifying rented residence, subject to caps and area conditions. An individual not receiving house rent allowance may claim a deduction for rent paid on his residential accommodation-furnished or unfurnished-where the deductible portion exceeds a specified percentage of his gross total income from ordinary sources; the deduction is subject to a monthly cap and area-based prescribed conditions. The deduction is not available if the individual or his spouse or minor child owns residential accommodation at the place where he ordinarily resides, works, or carries on business.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Rent deduction for individuals without house rent allowance reduces taxable income for qualifying rented residence, subject to caps and area conditions.
An individual not receiving house rent allowance may claim a deduction for rent paid on his residential accommodation-furnished or unfurnished-where the deductible portion exceeds a specified percentage of his gross total income from ordinary sources; the deduction is subject to a monthly cap and area-based prescribed conditions. The deduction is not available if the individual or his spouse or minor child owns residential accommodation at the place where he ordinarily resides, works, or carries on business.
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