stamp duty paid allowed u/s 80c?

Stamp Duty paid allowable u/s.80C

Covered in Clause (xviii) d

 Yes you can claim deduction

stamp duty and registration fee paid in connection with transfer of house property  to assessee only can be claimed as deduction.ie if land is purchased and stamp duty is paid for that and building is constructed then stamp duty will not qualify for 80C deduction.

Allowed.

Mr. Amit,

Mr. M. Krishankumar has put right answer to your querry . There are some points which you should have in mind while claiming deduction:

The deduction is available for any stamp duty, registration fee and other expenses paid for the transfer of house property but shall not include any payment by way of:

(a) The admission fee, cost of share and initial deposit whicha  shareholder o a company or a membner of a co-operative society has to pay for beoming such shareholder or member;

(b) The cost  of any addition alteration or repair which is carried out after the isuue of completion certificate.

(c) any expenditure in respect of which deduction is allowable under the provisions of Section 24

where such house is transferred before the end of 5 years from the end of the financial year in which the possession of the property is taken then no further deduction is allowed and slo deduction allowed earlier will be deemed income of the year of termination.

Hope you will find this information useful.

Regards

Vijay Kumar