Hi all,
Can anyone tell me whether Professional fees paid for purchase of House property is allowed to claimed as deduction ???
I know that stamp duty paid is allowed but don't know about Professional fees paid for such transfer of House.
Thaks for your reply
Ashish Joshi
what do u mean exactly by term professional fees? If it is a fee paid to CA or legal advisor , then it is not allowed as a deduction.
if u mean amount paid to estate agent as commission or brokerage, then its allowed.
if the professional fees is paid to legal representative for drafting, deeds, search and presentation of documents to registrar, then it would become part of registration expenses and get capitalised with value, hence the claim can be made,
Agreed with priyanka
Thanks a lot to all for your valuable replies...
Looking forward for further future queries
No it will not be allowed..........
CAclubindia
