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Rebate for stamp duty

T. Banusekar

I HAVE purchased a flat in Delhi for Rs 21.75 lakh. The flat is registered in my name and I have paid stamp duty and registration charges of Rs 1.67 lakh. Will the stamp duty and registration charges qualify for tax benefit?

Antony

Reply

You can get rebate under Section 88 in respect of the registration charges and stamp duty that is paid. However, the amount that will qualify for rebate in respect of both cannot exceed Rs 20,000.

This rebate can be claimed at the appropriate percentage from your tax provided your gross total income does not exceed Rs 5 lakh.

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