income tax relief under Section 80 C (xviii) (d) stamp duty, registration fee for income tax relief

[Jamil]

Hi,

1. Whether an allot-tee assessee who is yet to receive possession
of allotted DDA Flat under DDA 2010 Scheme is entitled for income tax
relief under Section 80 C (xviii) (d) stamp duty, registration fee and
other expenses for the purpose of transfer of such house property to
the assessee?

2. We have already paid Stamp Duty/Registration Fee to Registrar
of Stamps, Govt of NCT in the F.Y. 2010-11, for execution of
Conveyance Deed as required by DDA. So

3. We have already paid Rs.1,50,000/- to DDA as Registration Money
which also can considered for relief under Section 80 C, is it so?

Regards,

Jamil Thomas.

Section 80 C (xviii): for the purposes of purchase or construction of
a residential house property the income from which is chargeable to
tax under the head “Income from house property” (or which would, if it
had not been used for the assessee’s own residence, have been
chargeable to tax under that head), where such payments are made
towards or by way of:-

(a) any instalment or part payment of the amount due under any self-
financing or other scheme of any development authority, housing board
or other authority engaged in the construction and sale of house
property on ownership basis; or

(b) any instalment or part payment of the amount due to any company or
co-operative society of which the assessee is a shareholder or member
towards the cost of the house property allotted to him; or

(c) repayment of the amount borrowed by the assessee from—

(1) the Central Government or any State Government, or

(2) any bank, including a co-operative bank, or

(3) the Life Insurance Corporation, or

(4) the National Housing Bank, or

(5) any public company formed and registered in India with the main
object of carrying on the business of providing long-term finance for
construction or purchase of houses in India for residential purposes
which is eligible for deduction under clause (viii) of sub-section (1)
of section 36, or

(6) any company in which the public are substantially interested or
any co-operative society, where such company or co-operative society
is engaged in the business of financing the construction of houses, or

(7) the assessee’s employer where such employer is an authority or a
board or a corporation or any other body established or constituted
under a Central or State Act, or

(8) the assessee’s employer where such employer is a public company or
a public sector company or a university established by law or a
college affiliated to such university or a local authority or a co-
operative society; or

(d) stamp duty, registration fee and other expenses for the purpose of
transfer of such house property to the assessee,

[Pankaj Yadav]

I applied for the stamp duty tax relief under section 80C and it was granted for me !

regards

-Pankaj

[Ashish]

Hello friends,
Most of the person has taken loan for earnest money (1.5Lakh) and they
paid it after success in draw. Will this 1.5 lakh attract tax
exemption (upto 1 lakh only).

[Rajender Wadhwa]

I have also got tax exemption from my employer for paying stamp duty expenses to DDA.

 

-Rajender

[Gaurav Maroo]

Dear ALL

Tax Benifits are applicable as below on our DDA homes...if u have home loan

 

1)Tax Benifit of Principle amount shall be counted in 80C provided u donot sell ur home 5 yrs after possesion.

 

2)Interest is Tax free income as per act after getting possesion .

 

3)Stamp duty will be counted in 80C only if ur stamp duty payment and possesion are in same Financial year.

 

Hope attached pdfs will help all ....

 

https://groups.google.com/forum/?fromgroups#!topic/dda-2010/xg1oPEOMo3I