80c deduction

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2013 Dear sir,
i hv to purchase a plot during May 2013,and i hv to pay stamp duty and registration charges in May 2013.Whether i m eligible to get 80 c deduction for stamp duty and registration charges paid.

i am not sure whether i will contruct house over there but i m not going to sell it before 5 years.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

14 January 2013 Registration charges of plot will not make you eligible for getting deduction U/s 80C, unless you are having good intentions of starting construction upon the plot.
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Without starting construction no house property is coming into existence, for which deduction is allowable.
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You may have ample time to rethink about construction of a Residential House till you file Income Tax return.
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Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2013 thank you sir,but suppose if i construct the house but construction not get completed before mar 2014. in that case can i claim registration fee and stamp duty under sec 80c during 2013-14.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

14 January 2013 The purpose for paying the stamp duty remained to get a residential house, that's why you can claim.
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80C is allowed in the year of payment. House Construction takes its own time and can be completed in a reasonable time period only
and the condition of getting deduction has to be understood in the same parlance.
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