If construction of the property not complete / possession in same finacial year ? thane stamp duty and registration fee deduction for income tax benefit ?
vaibhav tambe (accounting) (24 Points)
21 January 2016vaibhav tambe (accounting) (24 Points)
21 January 2016
Ravish
(CA Final Student)
(30 Points)
Replied 21 January 2016
Yes, Deduction will be available in Section 80C.
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 21 January 2016
Yes, you can claim u/s 80c, but posession must be given in the same year, let's see other view also
Kamal vashist
(Accountant)
(183 Points)
Replied 21 January 2016
Yes you can claim deduction u/s 80C.
. Deductions can only be claimed in the year of actual payment. Suppose you bought house and paid Stamp Duty and Registration Charges in September 2014, than you can claim deduction for these expenses u/s 80C in the financial year 2014-15 only. Expense for earlier year cannot be claimed.
Naresh Patel
(C.A. Final)
(144 Points)
Replied 21 January 2016
Naresh Patel
(C.A. Final)
(144 Points)
Replied 21 January 2016
Sunil
(manager)
(149 Points)
Replied 22 January 2016
On similar topic,
I am including stamp duty and registration fee in cost of property to claim exemption under section 54F.
Can I include the same under 80C also?
Ravish
(CA Final Student)
(30 Points)
Replied 22 January 2016
Yes, we can claim stamp duty and registeration fees in the cost of acquisition of the property u/s 54F and as deduction u/s 80C.
Tarunjay
(GM)
(42 Points)
Replied 24 January 2016
Tarunjay
(GM)
(42 Points)
Replied 24 January 2016
Tarunjay
(GM)
(42 Points)
Replied 24 January 2016
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