banner_ad

Taxability of income - on refund of income tax

This query is : Resolved 
Profile Image

Profile Image

(Querist)
09 August 2012 May i know whether tax is deducted on the refund of income tax & what is the statue limit.?

I have read a case on this issue where the amt recd on Refund of income tax is chargeable under sec 2(24).

This is ridiculous if any amt is deducted on refund of income tax.

Please clarify.

Thanks & Regards
P Dandekar.
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
10 August 2012 1. Refund of Income Tax is NOT taxable.

2. INTEREST on refund of income tax is taxable.

3. If the amount of interest exceeds Rs. 5,000 then TDS will be deducted u/s 192A.
Profile Image

hardik

Profile Image

hardik (Expert)
25 October 2012 agree with the answer given
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details