I am retired housewife (64 years). I have bought a flat taking bank loan 2 days back. Can I deduct stamp duty, registration charges and sundry expenses -
a) directly as expenses from my total income (pension, interest) during the year or
b) u/s 80C?
4 Replies
shikhar
(LEARNER )
(1394 Points)
Replied 25 January 2013
NO MAM, U CANT DEDUCT THEM AS EXPENSES.... STAMP DUTY AND OTHER CHARGES WILL BE INCLUDED IN THE COST OF THE HOUSE,as a cost of acquisition (COA), when u sale this house it will reduce from sale value while calculating capital gain...IN INCOME TAX.
(Guest)
stamp duty paid can be claimed u/s 80C in the year of payment.
Source: https://www.indiantaxupdates.com/2013/01/13/stamp-duty-and-registration-charges-deduction-us-80c/
ALPESH KUMAR
(SUPRITENDENT)
(140 Points)
Replied 25 January 2013
Stamp duty and registration charges paid towards transfer of house property can be claimed as deduction u/s. 80C subject to the overall limit of Rs. 1,00,000/-.
ALPESH KUMAR
(SUPRITENDENT)
(140 Points)
Replied 25 January 2013
Stamp duty and registration charges paid towards transfer of house property can be claimed as deduction u/s. 80C subject to the overall limit of Rs. 1,00,000/-.
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