CAN REIMBURSEMENT OF EMI/INTEREST TO FLAT BUYER BY DEVELOPER DUE TO DELAY IN COMPLETION OF THE PROJECT BE TREATED AS REVENUE EXPENDITURE. IF ANY CITATION/RFEFERENCE
THANKS IN ADVANCE
Menu
PAYMENT OF EMI BY DEVELOPER DURING CONSTRUCTION PERIOD TO FLAT BUYER
Replies (1)
For the developer, EMI reimbursement is generally not treated as a standard revenue expenditure but rather as a balance sheet liability. For the buyer, compensation for delayed possession is typically taxed as "Income from Other Sources." Always consult a tax professional to evaluate your specific agreement, as rulings and interpretations can vary.
Recent Topics :
- Nursing Home Taxability
- CA opted for Form 10IEA mistakenly - Demand raised
- Query on scenario related to FAST DS 2026
- Audit Executive (Remote, India) - Ace Auditing Off
- GST Transaction On Used Clothing
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
- FAST DS 2026
- Does AIS GST Purchase aggregate GSTR-2B expenses?
- Form 26A - System has encountered some technical p
Related Topics :
CAclubindia
