Garvit Dave (Portfolio Analyst & Tax Consultant) (295 Points)
15 November 2011Dear Team,
Recently I’ve bought new home and taken home loan from LICHFL. House Registration is done however the registration amount is not part of a home loan.
How I can avail tax benefit for registration amount paid?
Thanks & Regards
Garvit Dave
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 15 November 2011
You can avaial the tax benefit of the registratino charges paid u/s 80C of the I-T Act. However keep the challan of the stamp duty & registration chgs paid for future reference.
ashish gupta
( student)
(1922 Points)
Replied 15 November 2011
@ giridhar can you please explain how is it possible to take this benefit u/s 80C
Phalgun
(Audit Manager)
(327 Points)
Replied 15 November 2011
Under section 80C stamp duty, registration charges & any other expenses incurred to transfer the property to the assessee is allowed as a deduction.
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 15 November 2011
Hi Ashish,
Please refer the section 80C of the I-T Act. I have attached the relevant extracts below: The relevant sectino is 80C(2)(d)
(xviii) for the purposes of purchase or construction of a residential house property the income from which is chargeable to tax under the head “Income from house property” (or which would, if it had not been used for the assessee’s own residence, have been chargeable to tax under that head), where such payments are made towards or by way of—
(d) stamp duty, registration fee and other expenses for the purpose of transfer of such house property to the assessee,
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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