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

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Shivansh Kumar (Querist)
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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!

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.

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