New Income Tax Return (ITR) forms for AY 2026-2027 mandate additional details for Section 80G and 80GGC deductions. Taxpayers must now provide transaction reference numbers, bank IFSC codes for 80G donations, and the political party's name and PAN for 80GGC contributions.
Self-employed individuals and salaried employees not receiving House Rent Allowance (HRA) can claim tax benefits for rent paid under Section 80GG of the Income Tax Act. This deduction, capped at Rs 60,000 annually, is available only under the old tax regime and requires filing Form 10BA. HRA exemption and Section 80GG are mutually exclusive.
Self-employed and salaried individuals not receiving House Rent Allowance (HRA) can claim tax benefits up to Rs 60,000 annually under Section 80GG of the Income Tax Act, provided they file Form 10BA and adhere to specific conditions. This deduction is exclusive to the old tax regime and cannot be claimed alongside HRA exemption.
