Deduction available under Income Tax Act (Sec 80GG & 80TTA)

80GG (Individual not receiving HRA) Rent paid for furnished/unfurnished residential accommodation subject to following conditions: Least of the following shall be exempt from tax: a) Rent paid in excess of 10% of total income*; b) 25% of the Total Income; or c) Rs. 2,000 per month. Total Income = Gross total income minus long term…