How to claim stamp duty paid under 80c

ITR Filing 409 views 3 replies

A_B_B

Compliance

55 Points Posted on 26 July 2018

Hello - need clarification on claiming stamp duty paid in FY 17-18 under section 80C.

One of the requirement mentioned is that it has to be new house; so would like to understand 'new' means as in new construction and directly purchased from the builder or new means new for the purchaser even though its a resale?

Last year I had purchased a house in an apt. It was a resale. Builder to first owner and from them to me as second owner. Can the stamp duty fee be claimed under 80C under this condition.

Replies (3)

Sarath Rajendran

Nil

2791 Points Posted on 26 July 2018

Conditions for claiming Stamp Duty and Registration Charges deductions u/s 80C, specifically under section 80C(2)(xviii)(d) of the Income Tax Act, 1961 are

1. Deductions can only be claim, if expenses are for new residential house property for self and not for a resold property. Payment for commercial property is also not eligible for deduction under this section.

For more https://www.simpleinterest.in/stamp-duty-and-registration-charges-deduction-section-80c/

Sumit Gupta

120 Points Posted on 26 July 2018

New means it should be new for the buyer..it is irrelevant whether its a newly constructed or resale..
Yes Stamp duty can be claimed under 80C subject to maximum of 1.5 lakh.