Deduction under section 80c

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Professional
42 Points Posted on 30 July 2013

Respected Forum members,

I am in the process of filing my ITR for F.Y. 2012-2013. However, before filing the same, I would like to know about deductions under section 80C.

The section 80C allows deduction of stamp duty and registration charges for property.

I would just like to clarify if the same is applicable on just residential property or on commercial property as well. I bought the commercial propoerty just for investment purpose and have put it on rent.

I would appreciate any quick responses inthis regards before I file my ITR tomorrow.

Thanks to all the esteemed members in advance.

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On 30 July 2013 at 22:26 Report
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Wealth Manager
5293 Points Posted on 31 July 2013

I don't think 80C is applicable for commercial property. It applies to house property. Also keep in mind that when you will sell this commercial property, the transfer expenses will not be available for capital gain calculation if you use this transfer expenses in 80C.

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On 31 July 2013 at 09:43

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