chartered accountant
28 Points
Posted on 15 February 2011
Hi Prashant,
Stamp duty & Registration expenses qualify for deduction under clause xviii(d) of subsection 2 u/s 80C of Income Tax Act, 1961.
80C(2)(xviii)(d) says: The sums referred to in sub-section (1) of 80C shall be any sums paid or deposited in the previous year by the assessee for the purposes of purchase or construction of a residential house property the income from which is chargeable to tax under the head “Income from house property” (or which would, if it had not been used for the assessee’s own residence, have been chargeable to tax under that head), where such payments are made towards or by way of stamp duty, registration fee and other expenses for the purpose of transfer of such house property to the assessee.