VAT paid for purchase of flat claim under IT ACT

Tax queries 999 views 5 replies

Is VAT Paid for purchase of flat exempt under 80C?

Replies (5)

Hello Man, There is No relation With VAT and 80c.

80C section is For Only Repayment of Housing Loan, If U Hav Taken Housing Loan.

VAT on flat purchase is not allowed as deduction 80C.

 

But you can claim stamp duty and registration fees of the purchase U/s 80C, or choose to treat it as part of the cost of the flat (for computing capital gain in future)

 

VAT will be part of purchase cost.

If the loan is taken for the purchase of the flat. And the flat purchase cost comprises of VAT, then the repayment of loan taken for such purchase can be claimed as a deduction U/s 80 C

 I agree with G.K.

hi

i want to know about tds on agency


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