Compensation as interest ordered by NCDRC
Booked a flat with a builder in 2010 and he failed to deliver the flat and offered possession after 6-7 years. We had approached the NCDRC and we opted for refund and NCDRC ordered in 2018, Refund of the entire amount with compensation in the form of simple interest @11 (compensation in the form of simple interest ).
Is the interest part which is as compensation in this case taxable.
We have again approached the NCDRC since builder has deducted TDS under section 194A1. We have not yet filed returns for 18-19 since we are in court and we want him to refund the TDS deducted wrongly with interest @ 11% from the date of the last payment made to the builder.
Is My last date for filling 18-19 return is 31st of June or has it been extended or can it be delayed because of lock down or NCDRC case.
If I file return and do not claim refund, can the refund be claimed later.
Relevant portion from final NCDRC order
For the reasons stated hereinabove, the complaint is disposed of with the following directions:
(i) The OP i.e. M3M India Limited shall refund the entire principal amount of Rs.2,74,79,831.48p, to the complainant along with compensation in the form of simple interest @ 11% per annum from the date of each payment till the date of refund.
(ii) The OP i.e. M3M India Limited shall pay a sum of Rs.25,000/- as the cost of litigation to the complainant.
(iii) The payment in terms of this order shall be made within three months from today
SOM BAKSHI [deleted]