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DEDUCTION U/S 80C OF STAMP DUTY PAID FOR PURCHASE OF PLOT

12 April 2019

If a plot is purchased on 11.04.2019 and house is completed by 15.03.2020 I.e. in same financial year, can we claim exemption u/s 80 C for payment of stamp duty and registration fees made towards purchase of that plot for construction ???

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4 Replies

CA PARAS BAFNA (Practising CA ) (33428 Points)
Replied 12 April 2019

Yes , you can claim deduction U/s 80C

1 Like

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rama krishnan (12244 Points)
Replied 12 April 2019

yes you can claim

Narendra Kumar (other) (299 Points)
Replied 13 April 2019

Yes, it can be claimed.

1 Like

C.M. SARAVANAN (ADVOCATE /TAX CONSULTANT) (53 Points)
Replied 13 April 2019

If you have bought a house, then there are certain charges that are required to be paid apart from the cost of house. According to the Income Tax Act, any stamp duty, registration fee and other expenses incurred for the purpose of buying a house is eligible for deduction from gross total income in the financial year in which these expenses are incurred. Here, 'other expenses' include any other statutory expenses similar to stamp duty or registration charges (if any applicable on transfer of prop ..