Deduction u/s 80(c)

Deduction under section 80C shall be allowed on payment basis and the assessee must be the owner of the property.So to claim deduction  under section 80C assessee must made the payment with in that financial year and must hold the possession of the property.So two conditioned must be satisfied in order to claim deduction under section 80C.

Hello,
Stamp duty paid for residential plot does not qualify for tax deduction under Section 80C.

I agree with Vishal since plot as such is not regarded as residential property

To summarise:

it is allowed only for a   residential property purchased  by the assessee in the financial year in which stamp duty is suffered by the assessee from his own sources for getting the residential property transfered in his name.

Hence transfer of  ownership  in the name of assesse does not take place in case of construction of a residential house in a plot owned by the assessee, and stamp duty and fees paid on plot does not amount to mean a residential property. As such you are not entitled to claim dedction u/s 80 C.

Hello   @ Manisha
The amount you pay as stamp duty when you buy a house, and the amount you pay for the registration of the documents of the house can be claimed as deduction under section 80C in the year of purchase of the house.

Principle component of home loan also qualify for deduction u/s 80C.