Interim payments

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Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2013 Dear sir,

Please explain me interim payment.

Regards,

Ehtesham

CA Pallav Singhania

CA Pallav Singhania (Expert)
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10 October 2013 It defines an interim payment as one that is made while waiting for the size of the other payments to be decided or simply for the other payments to be made.
For example, "He made an interim payment of Rs.5,000 on the loan, until the final loan amount was decided."