deduction u/s. 80c

This query is : Open

pradeep agrawal (Querist)
Follow

03 February 2009 stamp duty on purchase of residential plot , whether deductiable or not ?
construction on house not yet started.
Also loan taken for purchase of plot, whether interest and repayment of loan amount are deductiable ?

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
Follow

03 February 2009 Sectio 80c deals with repayment of principal and interest. Therefore stamp duty cannot be claimed. Furthe before the consturciton is complete the interest you pay is called as pre construction interest this has to be carried over and can claim only completion of the building however you can claim principal repayment.

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
Follow

03 February 2009 Stamp Duty paid is allowable as a deduction u/s 80-c provided it is paid for purchase of residential house property and it is not sold within 5 years of its acquisition and the same is not capitalized with the cost of property.

pradeep agrawal

pradeep agrawal (Querist)
Follow

03 February 2009 stamp duty , registration fee and other expenses for the purpose of transfer of such house property to the assessee is deductiable under sub clause (d) of clause (xviii). Whether plot is consider as house property or not. If consider then deduction allowed.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rajasekar

RAVINDRA KUMAR

ashvini tripathi

CA.Pinank Arvindbhai Shah

Shantaveeresh Manur

Subscribe Now

deduction u/s. 80c

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA