Tds on interest paid by income tax department on refunds
This query is : Resolved
29 June 2014
No. Not liable to deduct TDS.
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29 June 2014
Yes,if assessee is a non-resident.
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29 June 2014
SIR,
WHAT IF ASSESSEE WAS RESIDENT AND STILL DEPARTMENT HAS DEDUCTED TDS U/S 195
WHAT IF ASSESSEE WAS RESIDENT AND STILL DEPARTMENT HAS DEDUCTED TDS U/S 195
30 June 2014
No TDS is required to be deducted. Interest on IT refund must be included in your income under the head 'income from other sources'.
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Ashish Bansal
(Expert)
30 June 2014
Section 195 is not applicable for residents of India. There are other provisions to cover that.
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