Waiver of interest on delayed payments in real estate sector

Punam (Accountant) (37 Points)

12 February 2016  
Sir I am working in a real estate company. My company often waives off interest on delayed payments by the Plot/Flat buyers. Recently interest of an amount of more than 1 lakh was waived off. I wanted to ask is the interes t waiver ok. or are there any tax implications or other legal issues connected to it? can that be a problem for the company?