Deduction of Stamp Duty on purchase of house property
This query is : Resolved
02 April 2020
Mr. X purchased a residential house property in FY 2007-08 and claimed stamp duty of Rs. 1,20,000 as deduction u/s 80C in Income Tax Return of FY 2007-08 (AY 2008-09).
Now, Mr. X has sold this residential house property in FY 2019-20. In order to compute capital gains, this stamp duty of Rs. 1,20,000 can be considered in cost of acquisition?
Now, Mr. X has sold this residential house property in FY 2019-20. In order to compute capital gains, this stamp duty of Rs. 1,20,000 can be considered in cost of acquisition?
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03 April 2020
Yes this stamp duty of Rs. 1,20,000 can be considered in cost of acquisition.
03 April 2020
Yes the stamp duty ca be considered as part of acquisition. Deduction claimed u/s 80C wont effect your claim at the time of sale.
04 April 2020
This is cost of acquisition irrespective of the fact that deduction u/s. 80C was claimed
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