deduction u/s. 80c

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pradeep agrawal (Querist)
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03 February 2009 stamp duty on purchase of residential plot , whether deductiable or not ?
construction on house not yet started.
Also loan taken for purchase of plot, whether interest and repayment of loan amount are deductiable ?

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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03 February 2009 Sectio 80c deals with repayment of principal and interest. Therefore stamp duty cannot be claimed. Furthe before the consturciton is complete the interest you pay is called as pre construction interest this has to be carried over and can claim only completion of the building however you can claim principal repayment.

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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03 February 2009 Stamp Duty paid is allowable as a deduction u/s 80-c provided it is paid for purchase of residential house property and it is not sold within 5 years of its acquisition and the same is not capitalized with the cost of property.

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pradeep agrawal

pradeep agrawal (Querist)
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03 February 2009 stamp duty , registration fee and other expenses for the purpose of transfer of such house property to the assessee is deductiable under sub clause (d) of clause (xviii). Whether plot is consider as house property or not. If consider then deduction allowed.