Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Treatment of Income Tax Refund

This query is : Resolved 

23 July 2010 I want to know if the amount received as income tax refund is taxable or not? if not than under which section?

23 July 2010 hi
amount recieved as refund is not taxable, only interest on refund given is taxable, difference between the amount recieved and claimed would be interest on refund.

23 July 2010 agree to expert....

24 July 2010 Income tax refund is nothing but whatever you paid extra.As income tax paid is not exp income tax refend is also not income. only interest part will be taxable.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries


Unanswered Queries

Follow taxation Exam20 Book Book Book caclubindia books

Answer Query