Hi,
If I'm having refund of 40 lakhs in my account from online spends from credit card. So will it be taxable.
4 Replies
Kapadia Pravin
(17264 Points)
Replied 24 February 2021
Refund !! what type of !! please clarify.
if it's excess paid then refund is capital receipt and not taxable.
if it's excess paid then refund is capital receipt and not taxable.
Pranil Sarode
(4 Points)
Replied 24 February 2021
Hi,
For example,
If I'm ordering something from online website through credit card and then cancelling the order but I'm taking the refund in wallet and then bank account.
So will it be taxable.
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