Income tax
How to treat intrest on refund from builder, paid alongwith refund of principal as ordered by District consumer court, because of non delivery of project? Is it compensation to be treated as capital gains or will it be wholly taxed as per normal interest?
2 Answers
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Advocate Bharat Kumar Teli
Answered: 27 May 2023
It will be taxed as per normal provision of income tax act and taxed under other sources of income
Advocate By LEAD INDIA
Answered: 27 Mar 2023
Hello sir/mam
Before guiding you further as per the builder and customer matter our experts need to review the document or the agreement that you signed with the builder so please call on our helpline number
thank you
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