Gift deed registration amount
This query is : Resolved
C. Prem Kumar
(Querist)
24 November 2011
My father has executed a GIFT DEED in my favour (in FY 2011-12)for a property owned by him. The Registration costs of the GIFT DEED was incurred by me.
Can the Registration Cost of the GIFT DEED be claimed as exemption from my income.
Many thanks in advance.
-Prem
Can the Registration Cost of the GIFT DEED be claimed as exemption from my income.
Many thanks in advance.
-Prem
CA PARAS BAFNA
(Expert)
24 November 2011
No, Registration Cost incurred in connection with purchase or construction of house property can only be claimed.
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