Tag Archives: section 2(28A)

Additional amount Paid to Purchaser on cancellation of Flat is not interest under section 2(28A) hence No TDS

On cancellation of booking of apartment if excess refund is made to old purchaser after taking advance from new purchaser, such excess payment could not be qualified to be interest as defined under section 2(28A); The amount refunded to the purchasers represents the consideration the purchasers paid towards the undivided shares in the property agreed… Read More »