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Stamp duty and registration charges

Ankit (Final Student) (101 Points)

13 January 2013

Hi.

I would like to know stamp duty and registration charges deduction under section 80C is available in the year in which it is paid or in the year of possession? Please help me to solve the query.

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CA Krishna Chaitanya M (Chartered Accountant) (463 Points)
Replied 13 January 2013

allowable in the year of payment only for residential house property (income from which is taxable under the head income from house property),

payment for commercial property , no deduction is eligible.

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kavitha (studying final) (830 Points)
Replied 13 January 2013

if the income is chargeable under the head income from house property, then you can claim.( if you have document registered in your name that is sufficient to claim) that to in the same financial year.

if it is not taxable under the above said head, stamp duty n registation charges deduction you cant claim even for future years.....

so, if u are owner of the property n paid Reg.charges n S.Duty in same financial year then only u can claim otherwise your right to claim is lost forever!!!!

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work is worship (Service) (2728 Points)
Replied 13 January 2013

Under Section 80 c to claim deduction of stamp duty and registration charges along with principal portion of loan repayment, certain conditions need to be satisfied.

1. The amount of such stamp duty or the registration charge for which the deduction is sought should be paid in the previous year.

2. Further the house should be in the name of the assessee claiming deduction .

3. The assessee himself must pay the amount.

4. such expense deduction under Section 80 C will only be available for deduction in respect of a new house property.

5. No deduction available if the property is occupied by the assessee either wholly or partially.

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(Guest)

allowable upto Rs 1lakh

Source: https://www.indiantaxupdates.com/2013/01/13/stamp-duty-and-registration-charges-deduction-us-80c/

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CS,CA F,Numrologi TusharSampat (CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert) (85930 Points)
Replied 13 January 2013

Originally posted by : work is worship
	Under Section 80 c to claim deduction of stamp duty and registration charges along with principal portion of loan repayment, certain conditions need to be satisfied. 1. The amount of such stamp duty or the registration charge for which the deduction is sought should be paid in the previous year. 2. Further the house should be in the name of the assessee claiming deduction . 3. The assessee himself must pay the amount. 4. such expense deduction under Section 80 C will only be available for deduction in respect of a new house property. 5. No deduction available if the property is occupied by the assessee either wholly or partially.