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My account department says that the Home Loan Processing Fee comes under the 80C investments (Section 2(28A)). As my 80C investment limit is exhausted, I cannot get any exemption on the Rs. 11000 I paid as the processing fee. Is this correct? asked Apr 11 '11 at 08:58 by A9S6 66●4●4●9 |
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As per section 2(28A), the processing fee can be treated as interest, so it can be claimed as part of Interest, after completion of construction/possession. Its not a part of 80-C deduction. answered Apr 11 '11 at 14:02 by Pankaj Batra 5.2k●3●20 @pankaj: Thats means I can only claim deduction after possession, and not before that? There are still 2-3 months till I get the possession.
(Apr 12 '11 at 02:15)
A9S6
yes, you can only claim deduction after getting the possession. Same is applicable with home loan principal as well.
(Apr 12 '11 at 03:03)
Pankaj Batra
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