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TDS on Pre Emi
a builder of an apartment in order to boost his sales introduces a sales scheme by which he offers to bear the EMI's of his customers till he gives possession of the apartment. Does this EMI payment to the customer ( which the customer in turn pays to his banker ) is tax deductible? if so under what head / section? .
Replies (3)
No. Not deductible...
Thanks sir, but what would be the argument for not deducting. thanks
TDS was applicable when the bank paid advance to the builder, while paying back the EMI to bank the TDS is not deductible.
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