ITR 3 _ HOUSE PROPERTY_Balance Sheet

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 ?
Replies (7)
Quick Summary
This discussion addresses how a salaried individual should declare a jointly owned flat on their ITR 3 balance sheet. It clarifies that if the property is registered in both the individual's and their mother's names, 50% ownership should be declared by each. The query also covers whether stamp duty, registration fees, and processing fees can be added to the property's cost, with the advice being to capitalise stamp duty and registration charges but not processing fees. It's noted that stamp duty and registration fees cannot be claimed under Section 80C if they are capitalised.

Declare 50:50 ownership in both.

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. ?
  1.  No need. she remains co-owner
  2.  Add stampduty & registration charges to its cost.
Thank you clarification sir. After adding In cost.. I can claim deduction U/s 80c for stamp duty and registration fees . ??

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

Ok sir thanks a lot

You are welcome.          

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details