


- About Us
- OUR OFFERINGS
- CALCULATORS
- RESOURCE CENTRE
- Quick Links
- NEWS CORNER
-
INVESTOR RELATIONS
- Financial Reports
- Investor Presentations
- Annual Reports
- Notices
- ESG Profile
- IEPF
- Investor Call Transcript
- Corporate Announcement
- Public Issue of NCD'S
- Qualified Institutional Placement
- Investor Relations Contact
- Familiarisation Programmes
- ISO CERTIFICATIONS
- Forms for Shareholder KYC-PAN-Nomination update
- Credit Ratings
- Statutory Advertisements
- CONTACT US
- Login

Online

India's 1st Completely Online Home Loan!
-
e-APPLY
-
e-SANCTION
-
e-DISBURSE
Start your eHome Loans Process Now!
Apply OnlineIs deduction allowed for stamp duty and registration charges?

- Home Loans Guide ,Loan Against Property Guide
- Jul 03, 2015
- VIEWS: 4476
A frequent query people have. Can Stamp Duty and Registration charges be claimed under Section 80C of the Income Tax Act, 1961. Before answering this question let us comprehend what these charges essentially are.
Stamp Duty is the tax that is paid on the Market Value of the House. This tax is mandatory and is levied by the Government of India. It is however different for different locations, Mumbai being the highest because of its elevated property prices. The Stamp Duty is a whooping 5% of the property value. Registration Charges are a meagre 1% of the property value. This payment entitles you to a legal right to the property. Thus the final total value of the property is a lot more than the original price of the house.
After spending so much, you do want some sort of relief on your bank account right? Yes, stamp duty and registration charges can be claimed as a deduction under section 80C of the Income Tax Act, 1961. This is applicable for an individual or a Hindu Undivided Family (HUF). The limit under section 80C has now been raised to
1.5 Lakhs.
The expense should be claimed as a deduction, only in the year it is actually paid. To receive this benefit the construction of the property should be complete and you should have the possession of the house. If the property is purchased jointly, the owners can claim the expense, as a deduction in their income tax returns based on their share in the property.
So next time you buy a house, make sure to keep the above in mind. Don’t go for an expensive house just because you feel you may save some money on the deduction. The proportion spent on the house is a lot higher. Know more about home loans and calculate your EMI now !
To calculate your stamp duty, click here: Stamp Duty Calculator
Related Articles:
- What Determines Stamp Duty Rates In Property Transaction Cases?
- Tax Benefits On Home Loans That You Are Unaware Of
- Claiming Tax Benefits On Home Loans
The post Is deduction allowed for stamp duty and registration charges? appeared first on Indiabulls home loans.

Top up home loan vs personal loan a comparison to determine the better choice for loans
Taking on a loan of any kind is a financial responsibility. It is a debt that needs to be repaid, in full, based on the tenure chosen by the borrower. Most banks, housing finance companies and non-banking finance companies offer a myriad of loans to finance the different needs of customers.
- Home Loans Guide
- Jul 23, 2019
- VIEWS: 8335

MCLR in Home Loan
The interest rate is one of the most important components of a loan, especially in the case of a high-value loan that lasts for 2 decades or more; the home loan.
- Home Loans Guide
- May 24, 2019
- VIEWS: 6065

Types of Home Loan Charges
Most people fulfil their wish of becoming homeowners by taking out a home loan. It is the easiest way to afford a property as one can pay for the house in monthly instalments.
- Home Loans Guide
- May 24, 2019
- VIEWS: 6911
No Comments
Subscribe
Most Viewed Blogs
Categories
- Home Loans Guide 125
- Home Renovation Loan Guide 3
- Home Loan Transfer Guide 14
- Home Extension Loans Guide 1
- Loan Against Property Guide 28
- Home Loan Interest Rates Guide 2
- Others Guide 8
- Home Decor & Lifestyle Guide 5
- Plot Loan Guide 3
- PMAY Guide 5
- Uncategorized Guide 1
- NRI Home Loans Guide 5
- Financial Resolutions Guide 1
- New Year Resolutions Guide 1
Archives
- Mar 2020
- Jan 2020
- Nov 2019
- Jul 2019
- Jun 2019
- May 2019
- Apr 2019
- Mar 2019
- Feb 2019
- Jan 2019
- Dec 2018
- Nov 2018
- Jul 2018
- Jun 2018
- May 2018
- Apr 2018
- Mar 2018
- Feb 2018
- Jan 2018
- Dec 2017
- Nov 2017
- Oct 2017
- Sep 2017
- Aug 2017
- Jul 2017
- Jun 2017
- May 2017
- Apr 2017
- Mar 2017
- Feb 2017
- Jan 2017
- Dec 2016
- Nov 2016
- Oct 2016
- Jun 2016
- Apr 2016
- Mar 2016
- Feb 2016
- Jan 2016
- Dec 2015
- Nov 2015
- Oct 2015
- Sep 2015
- Aug 2015
- Jul 2015
- Jun 2015