Stamp duty & registration charges paid on land purchase
This query is : Resolved
26 August 2019
In case NRI purchase land in India below Stamp Duty valuation while calculating income tax u/s 56(2)(x) whether Stamp duty & Registration Charges & commission paid are added to purchasing price (cost of acquisition )
Whether actual purchase price plus above mentioned expenses are deducted from Stamp Duty Valuation and resultant to be considered as income from other sources or not please explain
Whether actual purchase price plus above mentioned expenses are deducted from Stamp Duty Valuation and resultant to be considered as income from other sources or not please explain
26 August 2019
Sec 56(2)(X) inter-alia provides that where the Stamp Duty Value of the Immovable Property exceeds the consideration (subject to 5% concession) for the property is taxable under the head other sources. It has reference to the consideration and not relate to cost.
26 September 2021
No. Stamp duty & Registration Charges & commission paid are NOT added to purchasing price (cost of acquisition ).
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