Section 24(b): Processing Fee, Insurance and Maintenance Charges Can Also Qualify as “Interest” When a taxpayer borrows money to acquire a property and pays the bank not merely interest but also processing fees, insurance and other borrowing-related charges, can the entire amount qualify for deduction under section 24(b) of the Income-tax Act? A…
The post Section 24(b): Processing Fee, Insurance and Maintenance Charges Can Also Qualify as “Interest” appeared first on The Tax Talk.
