Hi.
If builder is paying interest on home loan directly to bank on behalf of buyer as per subvention scheme , will it be considered as interest income for the buyer. Builder has deducted TDS on this interest payment to bank u/s 194A and it is reflecting in buyer's 26 AS. If yes, then why is it interest income of the buyer?
Because the loan is taken by the buyer of the property, and the interest payment is liability of the loan borrower.
VIKAS VERMA & CO
New Delhi
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SKAA & Associates
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