Deduction of Stamp Duty on purchase of house property

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Parth (Querist)
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02 April 2020 Mr. X purchased a residential house property in FY 2007-08 and claimed stamp duty of Rs. 1,20,000 as deduction u/s 80C in Income Tax Return of FY 2007-08 (AY 2008-09).

Now, Mr. X has sold this residential house property in FY 2019-20. In order to compute capital gains, this stamp duty of Rs. 1,20,000 can be considered in cost of acquisition?

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 April 2020 Yes this stamp duty of Rs. 1,20,000 can be considered in cost of acquisition.

Spurto Consultancy Services

Spurto Consultancy Services (Expert)
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03 April 2020 Yes the stamp duty ca be considered as part of acquisition. Deduction claimed u/s 80C wont effect your claim at the time of sale.

CA Suresh Jain

CA Suresh Jain (Expert)
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04 April 2020 This is cost of acquisition irrespective of the fact that deduction u/s. 80C was claimed

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