I have purchased a 10 year old house form somebody. I paid 300000 rs as stamp duty through bank challan. can I claim 80C rebate in that financial year.
Replies (10)
Quick Summary
This discussion clarifies whether stamp duty paid on the purchase of a 10-year-old house is eligible for an 80C tax rebate. While initially some confusion existed, the consensus is that stamp duty and registration fees can indeed be claimed as a deduction under Section 80C, provided it falls within the overall limit of Rs. 1,50,000. It's important to note that this deduction is available for the financial year the expenses were incurred.
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