Section 80c deduction on stamp duty - correction

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Snehashish Ghosh (Querist)
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15 April 2018 Hi,

I am re-posting this question again as I had typed in WRONG YEARs in my previous question. I have corrected the YEARs now in the following question:

I sold my old Flat in Oct 2017 and my taxable Capital Gain from the sale is Rs 6.69 Lakhs.

I have purchased a new Flat in Feb 2018 for Rs 11 Lakhs. I will therefore be claiming Section 54 tax exemption on the entire capital gains since the cost of the new flat is more than the capital gain.
Also I paid stamp duty and registration fees of around Rs 1.21 Lakhs and duly registered the new flat in my name in Mar 2018.

My question is whether I can claim tax deduction under section 80C on the Rs 1.21 Lakhs I paid as stamp duty and registration fees apart from the section 54 tax exemption ?
(Please note that I have taxable Income from Other Sources for the same financial year i.e. FY 2017-18). I do not need to include the stamp duty in the section 54 tax exemption as the cost of the new flat itself exceeds the capital gains.

Regards,
Snehashish

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 April 2018 Yes you can claim tax deduction under section 80C on the Rs 1.21 Lakhs you paid as stamp duty and registration fees apart from the section 54 tax exemption as you pay amount in excess of capital gain in buying new house,

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