Re: Does House Registration Fees is under 80C?
by saurabh desai on Jan 02, 2012 08:53 PM
As per 80C you can claim deduction when income from house is chargeable to tax under the head “Income from house property” Income here includes negative Income. Negative Income i.e. Interest on loan is chargable only after the possession of house. So indirectly you can't claim the benefit till you have possession. So unless you get posession in the same year you will not be able to claim the deduction.
As per section 80C of the IT laws, to claim stamp duty charges following conditions needs to be satisfied 1. Amount should be paid during the previous year 2. The property should be chargeable to tax as “income from house property”, which means that the property should be constructed and capable of being used. 3. No deduction is available for amount which is considered as expenditure under any other section.
I am paying Rs. 2 lakh as joint ULIP premium. it is a joint account with my wife. the income tax exemption under 80c is only one lakh. Can i share this extra one lakh paid to ULIP with my wifes IT assessment under 80 c. Please clarify
Re: under secton 80c
by saurabh desai on Jan 02, 2012 08:55 PM
As per section 80C of the IT laws, to claim stamp duty charges following conditions needs to be satisfied 1. Amount should be paid during the previous year 2. The property should be chargeable to tax as “income from house property”, which means that the property should be constructed and capable of being used. 3. No deduction is available for amount which is considered as expenditure under any other section. saurabh desai
my son is in bording school i am paying around Rs.70000 but in that only Rs.10000 is tution fee and 33000 is hostel fee is that hostel fee comes under 80c,80D or 80CC or any other rebate
my son is in bording school i am paying around Rs.70000 but in that only Rs.10000 is tution fee and 33000 is hostel fee is that hostel fee comes under 80c,80D or 80CC or any other rebate
my son is in bording school i am paying around Rs.70000 but in that only Rs.10000 is tution fee and 33000 is hostel fee is that hostel fee comes under 80c,80D or 80CC or any other rebate
