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Deduction of processing fee?
can we take deduction of processing fee of the home loan u/s 24(b)?
Replies (2)
No. It is only interest part of the loan is deductible under the section; which is to be supported by interest certificate provided by Bank.
The definition of interest as per section 2(28A) includes any service fee, therefore we can claim it as deduction under section 24(b).
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