{"id":27192,"date":"2022-05-28T12:40:59","date_gmt":"2022-05-28T07:10:59","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=27192"},"modified":"2022-05-31T05:24:32","modified_gmt":"2022-05-30T23:54:32","slug":"advance-to-builder-against-construction-is-refund-back-with-interest","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/advance-to-builder-against-construction-is-refund-back-with-interest\/","title":{"rendered":"Advance to Builder against construction is refund back with interest"},"content":{"rendered":"<p>Facts: &#8211; 1) I have contributed Rs 1.80 cr as advance to Builder on sep 2014 and booked a flat.<\/p>\n<p>2) July 2016, another payment of Rs 27.50 lacs was paid<\/p>\n<p>3) July 2018, Building was completed but i didn&#8217;t get the possession of premises and dispute filed in\u00a0 court.<\/p>\n<p>4) Court decide in favour of assessee and in dec 2021 settle their dispute a sum of Rs 3.5 cr. (Rs 2.075 own contribution plus interest)<\/p>\n<p>Query: &#8211;\u00a0 Weather the amount of Rs 1,42,50,000 which\u00a0 is received over and above of own contribution would be consider as &#8220;Capital Gain&#8221; or &#8216;Interest&#8217;?<\/p>\n<p>2. Payment is received is without deduction of TDS. Is there TDS provision is applicable?<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[610,611,369],"class_list":["post-27192","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-advance-to-builder","qa_tag-refund-of-advance-with-interest","qa_tag-tds"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/27192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=27192"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=27192"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=27192"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=27192"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=27192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}