Shravan engaged in business paid monthly rent of ₹ 5,000 by cheque for his residence during the previous year 2016-17. His adjusted total income is ₹ 3,40,000. The amount eligible for deduction under section 80GG is:

CS Executive · Tax Laws and Practice · PYQS · June 2017
Shravan engaged in business paid monthly rent of ₹ 5,000 by cheque for his residence during the previous year 2016-17. His adjusted total income is ₹ 3,40,000. The amount eligible for deduction under section 80GG is:
(A) ₹ 34,000
(B) ₹ 26,000
(C) ₹ 24,000
(D) ₹ 85,000

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax

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