Interest charged by Builder on delayed EMI payment
This query is : Resolved
09 January 2020
I booked the flat on construction linked EMI plan in 2009 and got the possession in 2017. However builder also charged me Interest on delayed payment of EMI. Please suggest If I can claim this interest u/s 24 of the income tax act. For example, if the interest is Rs 100, Can I claim 1/5th of the same Rs 20.00 in next 5 financial years after possession u/s 24 or other section of the IT Act.
Please suggest along with IT rulings and case study in such cases.
Please suggest along with IT rulings and case study in such cases.
29 May 2020
Please read https://taxguru.in/income-tax/tds-interest-payable-delay-payment-purchase-price-goods.html
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