Stamp duty and regi charges - benefit in which year

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Ramesh (Querist)

19 February 2013 Hi Experts!

Stamp Duty and Registration Charges for a home: The amount you pay as stamp duty when you buy a house, and the amount you pay for the registration of the documents of the house can be claimed as deduction under section 80C in the year of purchase of the house.

Please advise if the agreement is made in Year 2012-13 and possession of the house is received in 2014-15, can we claim benefit of above in year 2012-13.
Rgds,
Ramesh

@VaibhavJ

@VaibhavJ (Expert)

19 February 2013 Hi

You can claim deduction u/s 80C in the year of payment of taxes it self.

So in your case its FY-2012 -13.

Thanks!!

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

19 February 2013 The deduction is allowed in the year in which 'transfer of the house to the assessee' took place. Since there is only an agreement in 2012-13 and there is no transfer, since possession is expected in 2014-15, claim can't be entertained in 2012-13.

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CA Ayush Agarwal

CA Ayush Agarwal (Expert)

19 February 2013 The Year of Possession Should be Taken as Transfer of House.
and Allowed in That Year Only.

Hence In Your Case, Not allowed.
Fully Agreed With Warrier Sir.

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