Section 80c and section 48
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 October 2011
1.) Can deduction under section 80C be claimed for stamp duty and registration charges paid for purchase of residential property which is later on subsequently sold in the same year availing concession in stamp duty on account of transfer within one year.
2.) Can registration charges be added to cost of acquisition?
2.) Can registration charges be added to cost of acquisition?
CA PARAS BAFNA
(Expert)
01 November 2011
1. In case the house property has been sold
during the same Previous Year of its purchase, looking towards the intention of Section 80C you should not claim stamp duty.
*
2. Registration Charges form part of the cost of acquisition. You can claim it.
*
If you claim both, it will be like claiming double deduction in respect of the same expenditure, which is not permissible.
during the same Previous Year of its purchase, looking towards the intention of Section 80C you should not claim stamp duty.
*
2. Registration Charges form part of the cost of acquisition. You can claim it.
*
If you claim both, it will be like claiming double deduction in respect of the same expenditure, which is not permissible.
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
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
