Income tax benifit for registration amount & self contributi

Hello all,

 

I have recently purchased resale flat.

My question is if there is any provision for claiming Income Tax benifit for self contribution ( approx 13 lacs) & registration amount ( 2.7 lacs).

I am aware about that principle & interest on home loan benifit.

Also i know that registration amount can be shown fro first year in income tax benefit.

Can I equally divide registration amount & self contribution over a period of time. lets say 5 years as initially principle amount on housing loan is very minimal.

Anyone please help for the same.

 

Regards,

 

Ritesh Gupta

Replies (1)

Tax benefit u/s 80c for Registration amount paid towards purchase of Hp shall be claimed only in the A.Y. relevant to P.Y. in whihc the payment was being made.  There is no benefit on self contribution.

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