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Stam duty deduction

Others 640 views 1 replies

i have paid the stam duty for purchase of flat in f.y 10-11 and i have not taken any deduction u/s 80 c ..i have got possession in f.y11-12 can i get the deduction of payment of stam duty in f.y 11-12

Replies (1)

Stamp duty & regt fees are payable only when the proprety is being transferred in the assesses name.  So even if you ahve taken the possession in F.Y.11-12, you can claim the deduction u/s 80C in F.Y.10-11, as the sectino clearly states that the deduction wouild be available on transfer of the proprety.  Please read the serction 80C(2)(xviii)(d)given below

(xviii)  for the purposes of purchase or construction of a residential house property the income from which is chargeable to tax under the head “Income from house property” (or which would, if it had not been used for the assessee’s own residence, have been chargeable to tax under that head), where such payments are made towards or by way of—

(d)  stamp duty, registration fee and other expenses for the purpose of transfer of such house property to the assessee,


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