CAN WE CLAIM STAMP DUTY U/S 80C

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CA SANDESH MAHIPAL (Querist)

08 February 2011 CAN WE CLAIM STAMP DUTY PAID ON PURCHASE OF HOUSE AS DEDUCTION U/S 80C?

IF YES, THEN UP TO WHAT AMOUNT?

CA. Lohith Jagadeesh

CA. Lohith Jagadeesh (Expert)

08 February 2011 Hi,
In my opinion you cant claim Stamp Duty paid on Purchase of House as a Deduction u/Sec 80C as the list given under Sec 80C does not contain such benefit.

Thanks

For Further Clarification pls Join my community "Lo Aca"

Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),ITF Hons, SAPM Hons

chetan soni

chetan soni (Expert)

08 February 2011 I disagree with Lohith, you can claim the stamp duty & registration expenses done on purchase of house property in sec. 80C. in the year of purchase.

The limit amount is Rs. 1L as per sec. 80C.

Pls. see the following section break for you

Sec. 80C(xviii)(d)
stamp duty, registration fee and other expenses for the purpose of transfer of such house property to the assessee, but shall not include any payment towards or by way of—
A) the admission fee, cost of share and initial deposit which a shareholder of a company or a member of a co-operative society has to pay for becoming such shareholder or member; or
(B) the cost of any addition or alteration to, or renovation or repair of, the house property which is carried out after the issue of the completion certificate in respect of the house property by the authority competent to issue such certificate or after the house property or any part thereof has either been occupied by the assessee or any other person on his behalf or been let out; or
(C) any expenditure in respect of which deduction is allowable under the provisions of section 24;

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CA SANDESH MAHIPAL

CA SANDESH MAHIPAL (Querist)

10 February 2011 THANKS SIR......

CA. Lohith Jagadeesh

CA. Lohith Jagadeesh (Expert)

10 February 2011 Hi,
My apologies, Section Knowlegde updated.
missed it by oversight.

Agree with Mr.Chetan.

Thanks Mate....:)

Regards
CA.Lohith. J
B.Com,ACA,CS,(ICWA),ITF Hons,SAPM Hons

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