[aaykarbhavan] Excess premium paid by builder while refunding booking amount to be deemed as interest; attracts sec. 194A TDS

Excess premium paid by builder while refunding booking amount to be deemed as interest; attracts sec. 194A TDS

October 6, 2014[2014] 49 taxmann.com 173 (Cochin - Trib.)

IT : Where assessee, a builder, having collected certain booking amount from purchasers of flats, sold those flats subsequently to some other parties at a higher price, amounts refunded by assessee to original purchasers with a margin amounted to payment of interest within meaning of section 2(28A)

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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