Correct option is A
Correct Answer:
(a) ₹5,000
Explanation:
Under Section 80GG of the Income Tax Act, 1961, the deduction for rent paid is subject to the lower of the following:
Since the maximum limit per month is ₹5,000, the correct answer is (a) ₹5,000.
- ₹5,000 per month (i.e., ₹60,000 annually).
- 25% of total income (excluding capital gains and deductions under 80C to 80U).
- Actual rent paid minus 10% of total income.
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