hi, I have purchased a flat in this financial year and incurred a cost of rs 2 lacs on registration & stamp duties as cost of registration of this property in my name..guide me that is this cost deductable in tax computation..?
1 Answers
Tax deduction is available for amount paid for registration and stamp duty charges of house. This is u/s 80C and maximum limit is Rs 1 lakh.
Please note that this is not a extra deduction but under 80C. 1 lakh is total limit of 80C which may have life insurance, ELSS mutual funds, PPF, EPF etc also.
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