Deduction of Stamp Duty on Taxable Income
This query is : Resolved
03 March 2011
Respected Members,
I am residing in Rented Accommodation and taking exemption against HRA. I have paid 35000.00 as a stamp duty for residential plot purchase and got it registered on my and my wife's name. Presently my wife is not earning and not submitting any return/ income tax. Can I get any exemption on Stamp duty & how much ? & also I am also paying installment of home loan for this plot. Can I avail exemption of interest & repayment on my taxable income ?
I am residing in Rented Accommodation and taking exemption against HRA. I have paid 35000.00 as a stamp duty for residential plot purchase and got it registered on my and my wife's name. Presently my wife is not earning and not submitting any return/ income tax. Can I get any exemption on Stamp duty & how much ? & also I am also paying installment of home loan for this plot. Can I avail exemption of interest & repayment on my taxable income ?
03 March 2011
No you can not claim exemption for the interest portion as u are not owing the house .. further more the HRA exemption can not be claimed for stamp duty paid as it doesn't convey rent paid
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