23 February 2017
hi..... an assessee has availed possession of the only occupied property in the current year. he has opted to declare this as let out property and declared the rent income of the same.
whether he can avail the benefit of stamp duty paid on possession of the said flat as deduction from the rent income
kindly advise
24 February 2017
Stamp Duty Paid on purchase of property is to be capitalised. Under income from house property, other than interest on borrowed capital, municipal tax payment and standard deduction no other deduction is allowed..
CAclubindia
