Reg. 80 c deduction
Prashant Raj
(Querist) 06 April 2013
This query is : Resolved
My friend recently bought a house he will get the possession after an year. He was told by somebody that his house registration fee paid to government can be shown in the 1 lac slab of section 80C. Is this true?
Vidhi Joshi
(Expert) 06 April 2013
yes you can claim exemption but it is only available for the year of buying.
Ganesh babu
(Expert) 06 April 2013
CONDITIONS:
1. The amount of such stamp duty or the registration charge for which the deduction is sought should be paid in the previous year. Expense of earlier years in respect of stamp duty or any sort of registration charge shall not be eligible for deduction under section 80c.
2. Further the house should be in the name of the assessee claiming deduction.
3. The assessee himself must pay the amount. Exemption under section 80c shall not be available to any other assessee within in the same family, it will be allowed to the person making the payment.
4. such expense deduction under Section 80 C will only be available for deduction in respect of a new house property.
