Its rightly added to your income.....
Builder could have paid the amount directly to bank !!!
No.
After recent amendments in the act, it will be treated as the income in your hands. Secondly, builder is required to deduct TDS for the reimbursement amount.
You can take the benefit of home loan interest rebate u/s. 24(b) of IT act, as and when you get the possession (i.e. in 5 equal installments)
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