Hi
Registration charges/ stamp duty paid for registration of the property can only be claimed in the year in which actual payment of the charges/ duty have been made.
So, the deduction shall not be available now.
Claiming the stamp duty and registration charges as deduction under section 80C
Hi, Can i deduct the stamp duty and registration taxes paid for my current under construction property from my financial year two thousand eighteen - two thousand nineteen taxable income. Please note that the stamp duty and registration tax was paid in the financial year two thousand sixteen - two thousand seventeen The amount would be close to inr 6lac. my current salary falls in the 30% tax slab. what is the maximum limit of the stamp duty / registration charges that can be used in the 80c section
Asked 7 years ago in Income Tax
No you cannot claim the stamp duty and registration taxes from your income in the current year.
Regards,
Nikhil
No. You cant claim stamp duty and registration charges as a deduction from your taxable income of FY 2018-19 due to the following two reasons:
1. All 80C deductions are on cash basis i.e. you get the deduction in the year in which the payment/ investment is made.
2. It is not allowed to claim deduction with respect to stamp duty and registration charges for an under-construction property.
Hi,
Hope you are doing well !
No, you can not claim deduction for stamp duty & registration charges in current year.
As 80C deductions are allowed on cash basis i.e. you can only get the deduction in the year in which the payment/ investment is made.
Also, it was incurred for under construction property.
Thanks & Regards,
Payal Chhajed
Yes you can claim upto Rs.1.50 lacs only u/s 80C.
Stamp duty and registration fee qualify as deductibles under section 80C of the Income-tax Act, 1961, up to a limit of Rs1.5 lakh.
But it can be claimed in year in which it is paid and you can claim this deduction only if the construction of the property has been complete.
So you can not claim this expenses.
Ask a Chartered Accountant
Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
Ask a CA