Home loan, registration & stamp duty costs can be split and claimed in 80C

Did you know each joint owner can split costs of registration and stamp duty and claim 80C deduction?

5 Likes

good read info here; Payment made towards registration and stamp duty is eligible for deduction under section 80C provided these are claimed in the year in which they are paid. To avail the maximum benefit owners should split these costs and claim. When your interest outgo is more than Rs 2lakhs per annum on a jointly owned property then as a family you can claim a larger tax benefit for the interest paid on home loan.

6 Likes

Hi Sandeep for your info

If you have purchased the property jointly , the co- owners can claim these expenses in their respective income tax returns based on their share in the property. However, the maximum limit of Rs. 1,50,000 available under section 80C shall apply

5 Likes

Thanks @Sandeep_G for highlighting this. Will be really useful during this year end time.

Sharing a link that can add more value: Tips On Common Investment and Proof Submission

1 Like
Powered by | India's No.1 Payroll and HR Software.
9000+ Clients
150 Cities
10 Lakh+ Users