Stamp duty & registration charges for house property
This query is : Resolved
12 February 2019
Hi ,
I am planning to purchase residential flat on resale basis
please guide me on below
1 - Can i claim Stamp Duty & Registration Charges as deduction from income under income tax act in FY in which it is paid.
2- In future when i sell this residential property , can i claim stamp duty & registration charges as part of cost of acquisition , while calculating capital gains in that FY
I am planning to purchase residential flat on resale basis
please guide me on below
1 - Can i claim Stamp Duty & Registration Charges as deduction from income under income tax act in FY in which it is paid.
2- In future when i sell this residential property , can i claim stamp duty & registration charges as part of cost of acquisition , while calculating capital gains in that FY
12 February 2019
Yes stamp duty can be claimed under 80C maximum Rs.150000/-
Yes long term gain you can claim as cost of AQUISITION
Yes long term gain you can claim as cost of AQUISITION
Message likes :
2 times
13 February 2019
Sir ,
one small query , in above mentioned scenario , will it not amount to double benefit of same amount ( once as deduction from income & again as cost of acquisition in calculation of capital gains)
please guide whether my understanding is correct
one small query , in above mentioned scenario , will it not amount to double benefit of same amount ( once as deduction from income & again as cost of acquisition in calculation of capital gains)
please guide whether my understanding is correct
27 September 2021
Correct. Once it is claimed under deduction; you can not capitalize it under COA.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- One Post a Week Done Right Beats Seven Done Wrong
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
