Section 80c deduction on stamp duty in my situation
This query is : Resolved
Snehashish Ghosh
(Querist)
17 January 2018
I sold my old residential flat and after that I am buying a new residential flat in another town with the entire Capital Gains in the same financial year 2017-18, to claim section 54 tax exemption.
I will be paying stamp duty and registration fees of about Rs 1 Lakh in the same financial year for the registration of the new flat.
I also have Interest income from fixed deposits in this financial year (income from other sources).
Is it Correct that I can claim tax deduction under Section 80C on the Rs 1 Lakh I pay as stamp duty and registration fees for the registration of the new flat ?
I will be paying stamp duty and registration fees of about Rs 1 Lakh in the same financial year for the registration of the new flat.
I also have Interest income from fixed deposits in this financial year (income from other sources).
Is it Correct that I can claim tax deduction under Section 80C on the Rs 1 Lakh I pay as stamp duty and registration fees for the registration of the new flat ?
CA R SEETHARAMAN
(Expert)
18 January 2018
You can claim 80 c exemption and not include stamp duty and registration expenses under section 54 exemption
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