Income tax refund

ITR 606 views 2 replies

Dear Experts
We take interest income in heads of other source of income. Should Income tax refund has to take in other source of income? Before answering, consider
1) Where there is declared interest and we are investing there and before doing it there is assumption of taking advantage in reaction of investment.
2)In Refund case we have no such intention like on that rate or for such period etc

Replies (2)

In any case dear

Interest on refund of income tax is taxable under the head income from other source & this is not disputable(at least apparentaly)

sunil 

AGREE...

INTEREST ON INCOME TAX REFUND IS TAXABLE U/H OTHER SOURCES.


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