I am retired housewife (64 years). I have bought a flat taking bank loan 2 days back. Can I deduct stamp duty, registration charges and sundry expenses -
a) directly as expenses from my total income (pension, interest) during the year or
b) u/s 80C?
I am retired housewife (64 years). I have bought a flat taking bank loan 2 days back. Can I deduct stamp duty, registration charges and sundry expenses -
a) directly as expenses from my total income (pension, interest) during the year or
b) u/s 80C?
NO MAM, U CANT DEDUCT THEM AS EXPENSES.... STAMP DUTY AND OTHER CHARGES WILL BE INCLUDED IN THE COST OF THE HOUSE,as a cost of acquisition (COA), when u sale this house it will reduce from sale value while calculating capital gain...IN INCOME TAX.
Stamp duty and registration charges paid towards transfer of house property can be claimed as deduction u/s. 80C subject to the overall limit of Rs. 1,00,000/-.
Stamp duty and registration charges paid towards transfer of house property can be claimed as deduction u/s. 80C subject to the overall limit of Rs. 1,00,000/-.
Karia Overseas
Ahmedabad
CA
View Details
CAclubindia
