What are the provisions regarding payment of stamp duty and registration charges?
Stamp duty, registration fee and other expenses for the prupose of transfer of such house property to the assesses are entitled for rebate u/s 88 However, following payments are not entitled for the rebate: • Admission fee, cost of share and initial deposit paid for becoming a share holder of a company or member of a Co-operative Society. • Cost of addition/ alteration/ renovation/ repair of house property the completion certificate of the house is issued by the competent authority or after it has been occupied by the assessee or other person on his behalf, or been let out. • Expenditure allowable to be deducted u/s 24, out of income from house property. In case the above payment is refunded to the assessee or the house property is transferred within five years from the end of financial year in which the property is obtained, the amount allowed earlier as a deduction will be charged to tax in the year of refund or transfer as the case may be.
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