Hello Everyone
Under Chapter VIA Sec.80C deduction allowable to an assessee, if an assessee pay Stamp duty and registration fees regarding commercial property i.e. shop then he will eigible for deduction or not ?
4 Replies
CA Vanamala Phani Kumar
(Proprietor of M/s Vanamala and Co)
(972 Points)
Replied 28 February 2013
No...It is only for New residential property.....i.e 1st time use
CA Rajnik Galani
(prctice)
(154 Points)
Replied 28 February 2013
YA AGREE WITH ANS.
Get benifit only in it's a resident house property not for commercial propperty
CA Rajdeepsinh Kanchava
(Senior accountant at KPO)
(736 Points)
Replied 28 February 2013
no he will not get deduction
CA Prashant Gupta
(DGM (F & A))
(14068 Points)
Replied 01 March 2013
80C is for home loan repayment
I don't think author told anything about this.
if it is for loan then shop is not cover only home is cover
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