Pls advise - tax exemption on stamp duty & interest

Hi,

I am salaried employee. I have purchased a resale flat in this FY. For this I have paid Rs1.67 lakhs as stamp duty & reg charges. As well my home loan interest for this flat will be aprox 1.27 lakhs & principal component will be aprox 18K (FY 2012-13).

Please advise me, what max amount tax benefit I can get from above investment? Can i claim tax exemption on both stamp duty & interest component ?

Can I get back excess TDS in case if employer has considered only interest component & not considered the stamp duty paid by me.

Kindly advise me on the issue...

Regards,

prashant

Replies (2)

U can claim capital gain provided the house u have purchased have been sold out in 3 years

hello

          for stamp duty 1.67 lakh+ principal 18k you will get deduction under 80c but deduction limited to rs 1lakh

            for interest 1.27lakh-18k = 1.09lakh u can get deduction u/s 24 (b). u can claim refund for any excess tax(tds) paid after the closure of the year.for any further clarification you may write back to me

 

regards,

vijay

 

 

 

 

 

 

 

 

 

 

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