Tds on interest paid by income tax department on refunds
This query is : Resolved
29 June 2014
is department liable to deduct tds on interest on refund????
29 June 2014
No. Not liable to deduct TDS.
Message likes :
1 times
29 June 2014
Yes,if assessee is a non-resident.
Message likes :
1 times
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'.
Message likes :
1 times
30 June 2014
Section 195 is not applicable for residents of India. There are other provisions to cover that.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Plot of land. Cost of Acquisition
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Loan by Partnership Firm
- TDS related Query_Liquidated Damages
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
