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 :
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
Related Topics :
CAclubindia
