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Common Man (Technical Professional)     08 June 2012

Is stamp duty nontaxable ?

Hi,

Last year, i had booked one flat which cost me around 19 Lac. To completed the deal, i made the registration of property to haveli office. for doing registry i had paid Rs 75000 for stamp duty on Nov-11.

My question is, can i mention Rs 75000 as non taxable amount for my Financial year 11-12 ?

My organization already deducted TDS from my salary for Yr 11-12, so can i file returns to IT for Rs 75000... ?

Please suggest...

Thanks in adv.



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 2 Replies

A V Vishal (Advocate)     08 June 2012

You can claim registration charges but subject to the ceiling amount of Rs.1.00 lakh u/s.80C, further the registration & stamp duty must be for a sale deed and not agreement of sale as in your case.

A V Vishal (Advocate)     08 June 2012

I'm sorry I presumed it as an agreement , yes you may claim deduction subject to the ceiling mentioned above


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