Deduction of processing fee?
Ankur Agarwal (34 Points)
20 September 2021
can we take deduction of processing fee of the home loan u/s 24(b)?
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195421 Points)
Replied 20 September 2021
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.
Ankur Agarwal
(34 Points)
Replied 20 September 2021
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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