Stamp duty exemption in sec 80c - reversal ?
This query is : Resolved
23 July 2014
Hello,
I want to claim exemption under sec 80C for the stamp duty paid to buy new flat last year in my name. I want to sell this flat after 3 years (lock in period as per Sec 54). My query is that the exemption of stamp duty under sec 80C valid only if the flat is NOT sold for next 5 years or is there not such restriction
I want to claim exemption under sec 80C for the stamp duty paid to buy new flat last year in my name. I want to sell this flat after 3 years (lock in period as per Sec 54). My query is that the exemption of stamp duty under sec 80C valid only if the flat is NOT sold for next 5 years or is there not such restriction
24 July 2014
yes there is restriction of 5 years. please refer 80C(5)(iii)
28 July 2014
you are welcome Milind....
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