You will be required to file Form 10BA with details of payment of rent.
Deduction –the lowest of these will be considered as the deduction under this section-
(a) Rs 5,000 per month
(b) 25% of the total Income (excluding long-term capital gains, short-term capital gains under section 111A and Income under Section 115A or 115D and deductions under 80C to 80U. Also, income is before making a deduction under section 80GG).
(c) Actual rent less 10% of Income
Do take benefit of this section – provided all conditions have been fulfilled by you. Reach out to us if you have any questions firstname.lastname@example.org and we will be happy to address your queries!