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Are processing fees tax-deductible?

Curious about Processing Fee

Are processing fees tax-deductible?

In India, processing fees paid for loans or credit cards are generally not taxdeductible as they are considered to be a part of the cost of obtaining the loan or credit card. However, processing fees paid for certain types of loans, such as home loans, can be considered as a part of the cost of acquisition of the asset and may be eligible for tax benefits under certain conditions. It is advisable to consult a tax professional for specific advice on this matter.

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