Stamp duty & registration charges 80c deduction

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2011 I want to know whether Stamp duty & registration charges u/s 80 C is available for under construction property.

i am confused some says it is available and some says it is available only if construction is completed.

80C(2)(xviii)for the purposes of purchase or construction of a residential house property the income from which is chargeable to tax under the head “Income from house property” (or which would, if it had not been used for the assessee’s own residence, have been chargeable to tax under that head), where such payments are made towards or by way of—

it is not clear in above whether construction is to be completed or not.

if there is any case law supporting that it is available please provide the detail.

thank to give time.

Yogesh Agarwal

Yogesh Agarwal (Expert)
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22 December 2011 It is surely available for deduction. The purchase or commencement of the construction is the main intention of law. No time limit has been given in the said section...

I do not find any case law in this regard but in recent past a case law came for claiming exemption u/s 54 in which it was said that the commencement of house property is the sufficient ground for claiming exemption.

Go ahead and take a benefit of the same.

Guest

Guest (Expert)

22 December 2011 I fully agree with reply of Yogesh Ji.

If it would have been mandatory that construction should be completed than it must have been mentioned in the act itself. Without express indication, benefit can be claimed.