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
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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.
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