Hello Friends -
I've booked a Flat in Pune in Oct-10 by paying Rs.90,000/- subsequently paid Rs.1,00,000/- in December at time of Registration to Builder. (Not for Stamp Duty)
I've not taken any home-loan sofar as my flat is located in the 2nd phase and the work will begin only by July-11- So now while filing the return for 2010-11 can I claim Rs.1,00,000/- u/s 80C (Payment of Principal Amount)
Pl.Clarify-
Thanks
no you cannot claim deduction u/s 80c because you didnt pay Rs 100000 for stamp duty..if Rs 100000 was stamp duty then you will get deduction U/S 80C...
Hello Siddharth,
Thanks for the comments, but the amount of Rs.1,90,000/- paid (for which I possess Receipts and Registration paper) is my contribution towards Principal Amount for the purchase of residence.
Hence don't you think it should be exempted u/s 80C ( 1 LAC )
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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