Sec 80c deduction of stamp duty and registration charges
This query is : Resolved
Guest
Guest
(Querist)
18 March 2012
Dear Sir,
Sec 80C provides for deduction of stamp duty and registration charges on purchase of new residential house property.
My query is whether this deduction is available only if residential house is purchased from a housing board or cooperative society or on loan from bank?
I mean If one person purchases residential property from other person and pays whole sales consideration, then whether the purchaser can claim deduction of stamp duty and registration charges or not?
Sec 80C provides for deduction of stamp duty and registration charges on purchase of new residential house property.
My query is whether this deduction is available only if residential house is purchased from a housing board or cooperative society or on loan from bank?
I mean If one person purchases residential property from other person and pays whole sales consideration, then whether the purchaser can claim deduction of stamp duty and registration charges or not?
21 March 2012
The wordings of the deduction are as below
Stamp Duty and Registration Charges:
Stamp duty charges and registration charges paid while purchasing a new house are eligible for tax deduction under Section 80C.
Now, what is the meaning of new house is to be looked into. This can be like this
1) New house means you are purchasing for the first time and no one stayed in that house previously.
2) New house means you are purchasing a house for the first time and that is new house for you.
Stamp Duty and Registration Charges:
Stamp duty charges and registration charges paid while purchasing a new house are eligible for tax deduction under Section 80C.
Now, what is the meaning of new house is to be looked into. This can be like this
1) New house means you are purchasing for the first time and no one stayed in that house previously.
2) New house means you are purchasing a house for the first time and that is new house for you.
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
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- LC charges in relation to Asset purchased should be Capitalised ?
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Regarding TDS Applicability For Director Remuneration
- Multiple trade mark
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
