Income tax Query
This query is : Resolved
07 February 2011
first of all, thanks for support. my client purchase of house amounting rs. 10 lacs and he is paid stamp duty of rs. 1 lacs approx can we avail tax benefit under section 80 C regarding of stamp duty paid of rs. 1 lacs.
i m confuse pls suggest.
Regards
Amit K. Agarwal
Tax Consultants
first of all, thanks for support. my client purchase of house amounting rs. 10 lacs and he is paid stamp duty of rs. 1 lacs approx can we avail tax benefit under section 80 C regarding of stamp duty paid of rs. 1 lacs.
i m confuse pls suggest.
Regards
Amit K. Agarwal
Tax Consultants
07 February 2011
Yes sir, you can claim Rs. 1.00 U/s 80C.
Message likes :
1 times
08 February 2011
Yes you can claim the deductions under section 80C (xviii)(d).
Message likes :
1 times
08 February 2011
Yes u can claim the deduction
(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;
(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;
Message likes :
1 times
08 February 2011
Yes you can claim the deduction u/s 80C
Message likes :
1 times
Guest
Guest
(Expert)
09 February 2011
Only repayment of principal housing loan is eligible for deduction u/s 80C. Stamp duty it self not eligible for deduction under section 80 C
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- SFT Cash Deposit in Current Account
- Annual return in Gst
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
