Stamp duty

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Hi All,

 

I was off for a long time due to some personal problems...

Now come back with a new query could you please give me the answer

Q: Amount of INR68,000 paid as STAMP DUTY at the time of purchase of Home....

Should this amount is exempted from TAX

If YES then please update under which section it will be deduct and how much?

Thanks in Advance :)

Rakesh

Replies (1)
Reply to your query on the assumption that Assessee is an Individual. Stamp duty paid for purchase of home will be avaialble as a deduction u/s 80C. Furthermore, this deduction amount will be in the limit of section 80C i.e. INR 100,000/-. Thus, you can take the benefit of deduction of Stamp duty paid within the overall limit of INR 100,000/- Thanks Mihir Doshi

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