Stamp Duty & Registration Fee Exemption for Tax Saving

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Nayana (Querist)
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30 December 2008 Can I claim tax relief for the amount that I pay as registration fee and stamp duty for registering a house/property that I bought using a housing loan amount?

I have not received possession of flat yet, but I have already paid registration fee and stamp duty in the month July 2008. Please guide. & Also please mention can I show this money for saving tax in financial year 2008-2009.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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30 December 2008 In my view you cannot claim deduction u/s 80C(2)(xviii)since you have no possession over the property.

CA Chaitanya

CA Chaitanya (Expert)
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30 December 2008 You can claim deduction u/s 80 c as you are the owner of the flat. And you can also claim the interest amount deduction under the head house property.

Nayana

Nayana (Querist)
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30 December 2008 Thanks for your reply.
But if I get possession over the property in may 2009, will I be able to claim it next year (2009-2010) IT saving?

But date on registration certificate is July 2008.

Nayana

Nayana (Querist)
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30 December 2008 Mr. CA Chaitanya thanks for your reply.

K V Subba Rao

K V Subba Rao (Expert)
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30 December 2008 I support the view expressed by Sri Warrier after going thro detailed answer to a similar question in
http://www.capitalmarket.com/Cmedit/story11-37.asp?SNo=182997

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