A (Engineer) (132 Points)
15 March 2011
u/s of 80 C of Income tax Act Stampduty and Registration fee is allowed for deduction for purchase of a Residential House Property"
I have paid stamp duty for transfer of a property from my mother as deed of Gift.
Please guide me whether I will get the exemption on the above stamp duty paid for the deed of gift under 80C. The transfer of property from my mother to me as a gift has been done & the stamp duty has been paid by me.
Please help
Dheeraj
(Learner)
(1100 Points)
Replied 15 March 2011
Stamp duty & Registration expenses qualify for deduction under clause xviii(d) of subsection 2 u/s 80C of Income Tax Act, 1961, if payment is made for the purchase of residential house property.
and not included any transfer of property like gift deed.
So, as per my opinion it is not allowed for deduction u/s 80C
CAclubindia
