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ITR 3 _ HOUSE PROPERTY_Balance Sheet

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B.Com
120 Points Posted on 28 July 2024
A salaried person bought a flat in F.Y 2023-24. He tooks a loan for it and payment as been done by him only. however The flat is registered in the name of him and as well as his mother also..

In the balance sheet of that salaried person , should I show 50% of property value or 100% property value ?
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On 28 July 2024 at 12:33 Report
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SEO Sai Gr. Hosp.
211715 Points Posted on 28 July 2024

Declare 50:50 ownership in both.

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On 28 July 2024 at 13:30
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B.Com
120 Points Posted on 28 July 2024
No ITR has been submitted in his mother name till yet and
one more question. Can I add stamp duty , registration fees , and processing fee in cost of property. ?
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On 28 July 2024 at 13:33
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SEO Sai Gr. Hosp.
211715 Points Posted on 28 July 2024
  1.  No need. she remains co-owner
  2.  Add stampduty & registration charges to its cost.
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On 28 July 2024 at 13:35
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B.Com
120 Points Posted on 28 July 2024
Thank you clarification sir. After adding In cost.. I can claim deduction U/s 80c for stamp duty and registration fees . ??
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On 28 July 2024 at 13:38
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SEO Sai Gr. Hosp.
211715 Points Posted on 28 July 2024

No. If you claim deduction, it cannot be capitallized.

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On 28 July 2024 at 13:45
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B.Com
120 Points Posted on 28 July 2024
Ok sir thanks a lot
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On 28 July 2024 at 13:47
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SEO Sai Gr. Hosp.
211715 Points Posted on 28 July 2024

You are welcome.          

1 Reply
On 28 July 2024 at 14:15


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