Capital gain account money utilization

Only brokerage can be allowed as an expense. Stamp duty cannot be recovered

yes stamp duty and brokerage etc allowed as investment. in this actually you have to options

1 consider stamp duty as cost of investment

2 consider stamp duty as deduction under section 80C

Dear Sir,

Expenses incurred for completing the title are a part of the cost of acquisition.

Stamp duty expenses and other expenses i.e. brokerage, registration fees are allowed as part of the cost of the acquisition.

Note- No deduction of the same expense would be allowed under other provisions of the Income Tax Act i.e. no double deduction allowed.

Thanks

Hi,

Yes you can take the stamp duty and brokerage as a cost of acquisition.

regards,

Nikhil.

Hi

Yes, such expenses including stamp duty paid shall be allowed as part of exemption. You can capitalise these costs as cost of acquisition of the property.

Make sure, when you are capitalising these costs, do not claim deduction under 80C in this regard.

Allowed Stamp duty other direct exp like brokerage etc .

Hi Sir,

As per Income tax Act, the stamp duty and registration charges paid on purchase of new property shall be allowed u/s 80C.

The exemption on purchase of new property is restricted to the consideration amount paid to the builder/seller.

Also if the cost of flat exceeds 30 Lakhs then whole 30 lakhs shall be exempt from tax.

However if the cost of flat is less than 30 lakhs say 24 lakhs then the balance (6lakhs) shall be chargeable to tax under "Long Term Capital Gains".

Hope this resolves your queries!

Hi,

You may consider the stamp duty and brokerage as a cost of acquisition and claim exemption.

Ensure that you don't claim deduction u/s 80C for the same.

Yes. Stamp duty and registration charges are allowed.

Hi,

You can consider the stamp duty and brokerage as a cost of acquisition and claim the deduction.

Make sure you don't claim any other deduction in this respect under Income Tax.

Hi

All expenses directly related to transaction can be claimed as expenses. it will be added to cost of acquisition.

Hope it clarify.

Dear Sir,

Hope you are doing well !

Any expenses which are attributable to the purchase of property are allowed to be added in the cost of acquisition of the property. Hence, expenses like stamp duty, freehold charges, etc., will be added to the cost of the property. However, these payments must be evidenced by the proof of actual payment.

Thanks & Regards,

Payal Chhajed