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Stamp duty for purchase of old house

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varun kumar

16 Points Posted on 24 July 2021

[B] the cost of any addition or alteration to, or renovation or repair of, the house property which is carried out after the issue of the completion certificate in respect of the house property by the authority competent to issue such certificate or after the house property or any part thereof has either been occupied by the assessee or any other person on his behalf or been let out;

is it say no 80C rebate on stamp duty paid for purchase of old residential house????

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Quick Summary

This discussion clarifies whether stamp duty paid for purchasing an older residential property is eligible for a rebate under Section 80C. It explains that stamp duty, registration fees, and related transfer expenses are generally deductible under Section 80C, up to a limit of Rs. 1,50,000. However, this deduction is only applicable if the property is intended to generate taxable income or would have been taxable if not used for self-residence.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 24 July 2021

Stamp duty and registration charges and other expenses which are directly related to the transfer are allowed as a deduction under Section 80C. The maximum deduction amount allowed under this section is capped at Rs. 1,50,000

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 25 July 2021

Allowed only if such payment made 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).