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Can I claim tax rebate for loan processing fees?- Property Hotline
Posted
July 15, 2016
Views
195
Likes
3
Engagement
1.54%
July 15, 2016
195
3
1.54%
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1:24Now PlayingBe Un Confused
Expert: Harsh Roongta, Chartered Accountant and a SEBI registered Investment Advisor
Question: Can I claim home loan processing fee and fee charged by banks for reduction of home loan interest in my home loan interest component while claiming income tax rebate?
Answer: The definition of interest under section 2 (28A) of the Income-tax Act includes any service fee or other charges in respect of the money borrowed. So yes you will be able to claim the deduction for processing fee and other fees as Interest.
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