Stamp duty

stamp duty will be included in the cost of acquisition of that plot.

No. (unless part and parcel of house property)

Should include Stamp duty also while calculating the cost of the asset

Income tax doesn't allow deduction on stamp duty expenses so it will be added to the cost of the asset

I would like to disagree with all. Yes stamp duty will definitely be a part of the cost of land but you can claim deduction of the stamp duty paid u/s 80C(xviii)(d) which says as follows : 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 stamp duty, registration fee and other expenses for the purpose of transfer of such house property to the assessee. So, in my opinion you can definitely claim the said deduction if the house property is residential in nature (plot of land being included if will be used for construction of a residential house) Hope this helps ....

yes, u/s 80 c deduction allowed only if it is house property, but the given case is of PLOT, I think for plot 80c doesn't allow.

@ adityaagarwal I do agree wid you, but if added in the cost of the asset and asset is long term then can claim indexation benefit. rest I think @ nitinpatil would decide which is more beneficial to him.

@ nehamittal Though I get your concern of either taking the stamp duty amount as deduction u/s 80C or taking it in the cost of acquisition (which is logically correct to avoid double benefit), I have not come accross any provision in the act which specifies that either of the two will be allowed. Neither in the deduction section nor in the section of cost of acquisition. So in my opinion, government is allowing both the benefits simultaneously to promote the housing project and fulfilling its objective of housing for all in India.

and I think @ adityaagarwal it is implied that any one will be allowed.

and also to avoid unnecessary assessments. rest if want to take risk then it is completely clients call. 😊