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INTEREST ON PREVIOUS YEAR INCOME TAX REFUND AMOUNT

TDS / TCS 463 views 5 replies

My son got income tax  refund amounting to  Rs 16140  in previous year and so far my knowledge interest on this amount is taken as income for this Assessment Year. While trying to fill up his e return I could not find the appropriate place to put the interest amount, moreover I do not know the interest amount. Can any one tell me from where I can get this interest amount and where I have to put this one. There is one tab " Add another income" and inside their there is a place to put the total amount of previous year refund amount not the interest amount. Can anyone give some idea on this . 

Thanks in advance. 

Replies (5)

1. For interest amount check TIS/AIS report.

2. Fill the same in ITR 2/3 (as applicable) in Schedule OS,, Column 1 (biii).

Nothing in AIS/TIS , I have checked both. Being a salaried person he use   ITR 1 Form. 

 

Thanks for responding, will welcome others for their response. 

 

Thanks. 

Not of any help to as I am also looking for answer as ITD haven't issued FORM16A for this interest TDS component.

On your other queries - This interest TDS will be appearing as separate line item on REFUND INTIMATION notice as well as on AIS (not as TDS section but just refund line items - one for overall interest and second for TDS part).

For this you have to check that, you actually received refund amount mention in ITR or received refund with interest. There is some rule that interest only paid in certain condition. Not expert though in this area. 

Received only amount with no interest. 


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