Hi. I want to buy a 40% equity share in a home through the governments co-ownership housing scheme. Will I have to pay the full stamp duty. The purchase price is 170000. 1% is 1700
2007-10-12 09:28:53 · 2 answers · asked by K 2 in Business & Finance ➔ Renting & Real Estate
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If your share is 40%, I would expect you should only pay 40% of the costs (including 40% of the Stamp Duty) HOWEVER I would not put it past your 'co-owner' to stick you with whatever they can get away with ...
2007-10-13 06:34:35 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋
As in step with your assertion you're no longer possessing the residing house and additionally you're repaying the loan. As in step with earnings Tax Act 1961 reimbursement of residing house loan crucial is permitted to be deduction united states80C And activity element paid and amassed united states24 for house is occupied and used for generic place of abode.As such your reimbursement quantity is Pre occupation is allowable to be apportioned 20% each 3 hundred and sixty 5 days. An quantity of stamp duty/registration and so on. are alloewd for deduction united states80C. and additionally you have gotten the earnings singally or for the two.
2016-12-14 15:54:08 · answer #2 · answered by miceli 4 · 0⤊ 0⤋