Section 80c and section 48

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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?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.

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2. Registration Charges form part of the cost of acquisition. You can claim it.

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If you claim both, it will be like claiming double deduction in respect of the same expenditure, which is not permissible.

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