In this article I will be writing about the stamp duty and registration charges associated with the property purchase. Many of our readers have doubts on the same and posted in the comments. I feel this article will answer some of the queries posted by our readers. If you have any doubts, please post it in the comments section. If you like the article, get the free email updates. Also please join our facebook fans page.
Stamp Duty & Registration Charges
Stamp duty indicates a form of tax that is imposed on documents. Traditionally, a physical stamp – tax stamp, needed to be part of the document to assert its legal validity.
If you have not paid the stamp duty for your property, the documents become invalid. It can not be shows as the proof for the ownership. It is good to pay the stamp duty without any problem.
Registration charges are associated with the property purchase. Normally 1% of the property value will be paid as the registration charges.
Stamp Duty and registration charges are added to the principal amount of the home loans. Hence, you can claim in the principal repayment of the home loans. This question is asked by many of our readers. Note that, it is treated as the principal of the home loans. It will be coming under the maximum limit of Rs.1000000.
I hope this article is useful for those who want to learn about the stamp duty for the property. If you have any doubts, please post it in the comments section.
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