What is pre-emi loan or pre-emi plan in the context of purchasing or construction of flat. Under pre-emi plan bulider pays interest to buyer. that interest is showing under 194A in 26AS. What is it please explain.
Menu
What is pre-emi loan or plan while purchasing flat
Replies (5)
That interest amount is taxable, declare it u/h. IFOS.
Thank you sir
Can you give details about pre emi plan ( i.e what's it etc.
While booking an apartment, builder offers some freebies. One such is pre EMI facility. In this case builder offers to pay all the home loan EMIs on behalf of customer to Bank, till he gives possession of the apartment to the customer. After possession the customer pays home loan EMIs as usual.
Thank you sir for your reply
You are welcome.
Recent Threads
- Conversion of Capital Asset (Shares) into Stock in
- Income tax-wrong head challan
- Regarding berthing of vesse
- Schedule FA reporting - peak value and cash MMF
- Partnership firm with foreign national person
- Audit required
- Deemed Withdrawal of ASMT-13 Orders & Adjustme
- Need advise with HRA claim
- Schedule AL limit for FY 2024-25
- Can a person use ITR 1 when she has CG of Rs.250/
Related Threads
CAclubindia
