Deduction of stamp duty on purchase/construction of house pr

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 March 2013 DEAR SIR,
I HAVE TO PURCHASE AN HOSUE PROPERTY WITHOUT AVAILING ANY LOAN FACILITY.THE PROPERTY IS UNDER CONSTRUCTION BY BUILDER.I WILL MAKE AN AGREEMENT FOR PUCRHASE OF FLAT.THE STAMP DUTY AND REGISTRATION CHARGES WILL BE BORNE BY ME OUT OF MY CASH ACCRUALS.
PL. LET ME KNOW WHETHER DEDUCTION OF STAMP DUTY IS AVAILABLE U/S 80 C OR NOT?

THANKS

PALASH

PALASH (Expert)
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24 March 2013 PAYMENT OF STAMP DUTY , NOT ALLOWABLE DEDUCTION U/S 80C.

Querist : Anonymous

Querist : Anonymous (Querist)

24 March 2013 SIR,
BUT AS PER SECTION 80C OF INCOME TAX ACT 1961, Stamp duty,registration fee and other expenses for the purpose of transfer of such house property is allowable.

Pl. advise.

Regards

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PALASH

PALASH (Expert)
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24 March 2013 AS PER SEC 80C OF IT ACT , ALLOWABLE DEDUCTION RELATED TO---> " Certain payments made by way of Installment or part payments of loan taken for purchase/construction of residential house property " NOT STAMP DUTY & REGN FEES.
thanking you,
PALASH RAKSHIT.

Querist : Anonymous

Querist : Anonymous (Querist)

24 March 2013 Dear Sir,
Refer Sec 80C xviii clause d. As per sectyion Stamp duty & registration fee is allowable.

Pl. advise.

PALASH

PALASH (Expert)
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24 March 2013 Yes, YOU ARE RIGHT 100%, I agree with you, definitely payment of duty & regn. charges for a home allowed as deduction u/s 80C & CAN BE CLAIM IN THE YEAR OF PURCHASE OF THE HOUSE . ACTUALLY , INITIALLY , I LITTLE BIT CONFUSED BETWEEN PRINCIPAL OF HBL & STAMP DUTY PAYMENT , BUT NOW, I 100% AGREE WITH YOU.

Thank you very much,

PALASH RAKSHIT.