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Interest on income tax refund classification in cash flow
whether interest on income tax refund be shown under investing activites in cash flow statement
Replies (3)
no.. interest received on income tax refund should be treated at par with income tax.
Thanks for your reply but how can we take interest income under cash flow from operating activities.
income tax refund arises as an outcome of excess payment of tax. advance payment of tax by any mode is not done for the purpose of investment. hence it cannot be treated as cash inflow from investing activities.
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