Claim Stamp Duty and other Expenses u/s 80C

It is important to note that, other than investments, certain expenses which one incurr for purchase of house property can also help to get deduction and lower tax. Income Tax Act, provides deduction of certain expenses incurred towards purchase of house property u/s 80C provided specified conditions are fulfilled. Payments which qualify for deduction u/s 80C

  • Stamp Duty; and
  • Registration Fees

paid while acquiring property. Conditions to Claim deduction

  • Amount must have been paid by the assessee.
  • The deduction can be claimed only in the year when payment is made.
  • The house property relating to which payment is made should be transferred in the name of assessee.
  • The house property should be chargeable to tax under the head “Income from house property”.
  • The deduction is available upto the limit of Rs. 1,00,000/-.

Unqualified Payments

  • The Cost of any addition or alteration to, or renovation or repair of, the house property which is carried after the issue of the completion certificate in respect of the house property by the authority competent to issue such certificate or after the house property ( or any part thereof) has either been occupied by the assessee or any other person on his behalf or been let out; or
  • Any expenditure in respect of which deduction has been already claimed in the other section. provides full fledged comprehensive tax planning service wherein we suggest the best investment and tax saving plans, which would minimize your total tax on income.

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