Registration and stamp duty deduction under 80c (Income Tax)

This query is : Resolved

Gaurav

( Author )
22 May 2012

We (My wife and me) have bought a flat and paid registration charges of Rs181,000/- and stamp duty of Rs30,000/-. The limit under 80C is of Rs100,000/-.The flat is registered in both my wife and my name. So is it right that we both can claim deduction of Rs100,000/- each, as the total sum paid for registration and stamp duty is Rs211,000/-. Please help.

CA Navin Jain

( Expert )
22 May 2012

yes, both can claim the deduction,

Gaurav

( Author )
22 May 2012

Thanks Navin for your prompt reply.

I was really tensed about making another investments by year end of Rs100,000/- each to save tax. :)

CA Navin Jain

( Expert )
22 May 2012

CAN YOU TELL WAHT IS RATIO IN THE PROPERTY OF BOTH, HUSBAND AND WIFE?

Gaurav

( Author )
22 May 2012

We are keeping it at 60-40......my wife earns more than me, so her share is 60% and mine 40%........
We will keep the EMI contribution also in the same ratio

CA Navin Jain

( Expert )
22 May 2012

DEDUCTION U/S 80C ALSO AVAILABLE IN SAME RATIO.

Gaurav

( Author )
23 May 2012

Thanks Navin. I would keeep that in mind.
:)

CA Navin Jain

( Expert )
23 May 2012

R U IN JOB?