Form 10BA is a declaration to be filed by a taxpayer who wants to claim deduction under section 80GG for rent paid on rental property. In order to claim deduction u/s 80GG following two conditions should be satisfied:
If both the above conditions are satisfied, then the taxpayer can submit a declaration in Form 10BA. A taxpayer should submit Form 10BA before filing ITR.
During FY 2019-20, Arun was employed for the first 6 months and after that, he started doing freelancing work. Arun stayed at rented premises during the entire year. During his employment he received HRA. He does not own any self-occupied house property.
In the above scenario, Arun is eligible to claim deduction under section 80GG and can file Form 10BA for the last 6 months’ rent paid by him. Since he was not receiving any house rent allowance during that time and he did not own any self-occupied property.
A taxpayer has to submit the form online from his/her e-filing account on IT Department website.
Log in to the e-filing account from the e-filing portal.
It is right next to the My Account tab.
Select Submission Mode as Prepare and Submit Online and click Continue.
Preview and submit
Following details are required:
It is advisable to submit Form 10BA before filing income tax return and claiming deduction under section 80GG.
No. As per primary conditions, you can not claim a deduction on rent paid if you receive an allowance from your employer. In this case, only HRA is allowed as deduction.
Yes, you can file Form 10BA. Provided you, your spouse, a minor child or your HUF does not own any self-occupied residential accommodation.
You can claim deduction u/s 80GG while filing your ITR. However, Form 10BA needs to be filed before filing ITR.