Mr. X, a businessman, whose total income (after allowing deduction under chapter VI-A except under section 80GG) for A.Y. 2021-22 is Rs.5,95,000. He does not own any house property and is staying in a rented accommodation in Lucknow for a monthly rent of ₹ 9,000. Deduction allowance under section 80GG for A.Y. 2021-22 is:
A. ₹ 48,500
B. ₹ 1,48,750
C. ₹ 60,000
D. ₹ 1,08,000
Answer:A
Mr. X, a businessman, whose total income (after allowing deduction under chapter VI-A except under section 80GG) for A.Y. 2021-22 is Rs.5,95,000. He does not own any house property and is staying in a rented accommodation in Lucknow for a monthly rent of ₹ 9,000. Deduction allowance under section 80GG for A.Y. 2021-22 is:
A. ₹ 48,500 B. ₹ 1,48,750 C. ₹ 60,000 D. ₹ 1,08,000