Customers opting for Construction Linked Payment Plan (CLP) have the option to pay in advance of the due dates and earn EPD (Early Payment Discount) 12% per annum.
The EPD (Early Payment Discount) will be worked out from the date of Receipt of such advance payments (Date of Clearing of Cheque of up-country customers) till such time the payment is lying with the Company in advance.
The EPD earned and the advance amount lying with the Company will be adjusted from the next due date and only balance amount will be payable by the customers.
Any unadjusted advance amount will be carried forward and shall continue to earn EPD 12% per annum till the next Demand date. Any unadjusted EPD amount will be carried forward till the next due date and shall not earn any EPD.
The Aggregate EPD will be adjusted from the BSP of the unit at the time of Possession.
Since EPD is like a Discount and not interest, there is no TDS deduction in this.
The EPD (Early Payment Discount) will be worked out from the date of Receipt of such advance payments (Date of Clearing of Cheque of up-country customers) till such time the payment is lying with the Company in advance.
The EPD earned and the advance amount lying with the Company will be adjusted from the next due date and only balance amount will be payable by the customers.
Any unadjusted advance amount will be carried forward and shall continue to earn EPD 12% per annum till the next Demand date. Any unadjusted EPD amount will be carried forward till the next due date and shall not earn any EPD.
The Aggregate EPD will be adjusted from the BSP of the unit at the time of Possession.
Since EPD is like a Discount and not interest, there is no TDS deduction in this.