INTEREST ON PREVIOUS YEAR INCOME TAX REFUND AMOUNT

TDS 161 views 5 replies

trnghosh

sr asst

219 Points Joined July 2014

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)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

197207 Points Joined July 2016

1. For interest amount check TIS/AIS report.

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

trnghosh

sr asst

219 Points Joined July 2014

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.

Shau Ram

Hardworking

28 Points Joined June 2024

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).

spatel

Engineer

68 Points Joined June 2023

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.