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.
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08 February 2011
Yes you can claim the deductions under section 80C (xviii)(d).
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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;
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08 February 2011
Yes you can claim the deduction u/s 80C
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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
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