Easy Office
LCI Learning

Section 80c: stamp duty & reg charges of a property

This query is : Resolved 

22 March 2019 As we all know that deduction u/s 80C shall be allowed for payment on account of Stamp Duty & Registration Charges of a Property. I have a query in relation to this in a particular scenario.

An individual paid stamp duty and registration charges in March 2019 (FY 18-19), however, due to procedural formalities of the government, actual registry shall be done in April 2019 (FY 19-20) and accordingly legal possession shall be given on or after April 2019.
Will the deduction be allowed in:
a) FY 18-19
b) FY 19-20
c) Not allowed at all

Further, would appreciate if anyone could quote the relevant section/ rule/ notification based on which time of the deduction in such a scenario is allowed. Thanks in advance!

25 March 2019 You may refer the relevant Section i.e Section 80C(2)(xviii)(d).
The benefits of section 80C are allowed on payment basis.
Since you have paid in FY 2018-19, you can only claim the deduction in AY 2019-20 only and you would do accordingly.
The purpose of the section is to provide incentive to the activity of purchase and construction of residential house.
If you construct a house than the stamp duty is paid in the year when you purchased the land. So no need to co-relate with the same with the possession or actual date of registration.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries