Payment by Builder/ Developer for Compensation/Damages to Allottees is not Interest u/s 2(28) of Income Tax Act, No TDS: ITAT [Read Order]

By Ipsita Das - On October 16, 2023 4:30 pm - 2 mins read
Payment - Builder - Developer for Compensation - Damages to Allottees - Interest - Income Tax Act - TDS - ITAT - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held the compensation/damages paid by the assessee to its allottees cannot be tagged as interest under Section 2(28A) of the Income Tax Act,1961 and  therefore, TDS (Tax Deducted at Source) provision of Section 194A of the Income Tax Act was not applicable. The assessee in this…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader