Smart tax move? Pay rent to your parents! Section 80GG of the Income Tax Act allows you to claim a deduction of up to Rs 60,000 if you pay rent to your parents and live with them. Here's how it works: Rental Agreement: Sign a formal rental agreement with your parents. No HRA: Ensure you're not already claiming House Rent Allowance (HRA) benefits. Form 10BA: File this form to declare that you don't own property in the same city and aren't receiving HRA. This strategy can potentially save you up t

Will Bangalore congestion tax solve the traffic mess? The city announced 90-day action plan. If successful, it will be continued furthermore. What are your thoughts on this congestion tax? #taxbuddy #bengaluru . . . . [congestion tax, Bengaluru, Bengaluru traffic, tax, taxes, Karnataka] | TaxBuddy