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How to pay stamp duty for joint property purchase

A Kar (Nil) (79 Points)

23 August 2022

Hello,

My wife and I are planning to buy a property in the holding ratio of 70:30. Now I know that she has to pay 70% of the TDS and I have to pay 30% and generate 2 separate forms.

what about stamp duty? Do we both have to pay the stamp duty separately from respective accounts in 70 : 30 proportion? For example for 10 lakhs stamp duty, 7 lakhs from her account and 3 lakhs from mine? I want to separately claim 80C deduction for this.

Thank you.

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11 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160551 Points)
Replied 23 August 2022

If you wish to claim deduction u/s. 80C of the act, better pay it separately from respective accounts...

A Kar (Nil) (79 Points)
Replied 23 August 2022

Thanks for your prompt reply. The builder is insisting on single payment for ease of their CRM system. Can I pay to my wife the 30% and she make the whole payment? Later on if I show the transfer transaction will it be sufficient?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160551 Points)
Replied 23 August 2022

Yes, that can be done...

A Kar (Nil) (79 Points)
Replied 23 August 2022

If I am not claiming deduction can anyone pay it? If yes

The total contributions for the property has to be maintained in 70:30 ratio. Will this include stamp duty too?
For example property value is 90 lakhs, stamp duty is 10 lakhs.

Now can my wife pay the whole 10 lakhs stamp duty? I do not claim anything u/s 80C

Then do I have to pay 30% of 90 lakhs that is 27 lakhs, excluding stamp duty amount to show 30% ownership? Or later during payment against the unit, I have to pay 30 lakhs to make up for my part of the stamp duty amount to claim 30% ownership? So that form the total cost unit + stamp duty, I have paid 30 lakhs even though I did not pay stamp duty individually.

A Kar (Nil) (79 Points)
Replied 23 August 2022

Originally posted by : Dhirajlal Rambhia
	Yes, that can be done...

Sir, thanks a lot for your valuable guidance. Now I am thinking what if both of us contribute proportional money by transfer to our joint A/c and pay from there to show clear record of the transaction. Is this a better option? This will be my last question. Thanks again.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160551 Points)
Replied 23 August 2022

1. Yes that is also good option.

2. Generally, even if ration for stamp-duty or similar miscellaneous expenses are not maintained, then also it will not affect much, as after all it is between husband & wife.

Need to maintain the ration in agreement value, which is more important.

Best of Luck...