ITR 2 FORM FILLING

Sir, I recd 1.7 lac as Income tax refund - tin 22-23 fin year. this is from the TDS deducted in last year during the sale of flat. Hope this is not treated as income. If I add in the income coloum it under -income ( below-interest from bank etc ) then this amount gets added. How exactly this is filled . Pl guide sir. Thank to all of you in sparing your precious time & it is a great service.

regards,

 

vijayakumar

Replies (2)
Quick Summary
This discussion addresses how to correctly declare an income tax refund received for the financial year 22-23 in the ITR 2 form. The user received a refund of £1.7 lakh, which was TDS deducted by the flat buyer. The main concern is that entering the full refund amount in the income column incorrectly increases taxable income. The consensus is that only the interest earned on the refund (in this case, £4060) is taxable and should be declared as 'Interest from Income Tax refund' under 'Income from Other Sources'. The principal amount of the refund itself is not taxable income.

Hi Vijay, only interest earned on it is taxable. If you need any help in that, then please check your inbox.

sir,

if I enter the amount recd from Income tax dept - ( which is the TDS deducted by the flat buyer erlier ) this  income gets added to the present income . out of this 4060 is the interest paid by income tax dept . rest is my money only sir.

where is this to be entered. Pl guide sir. IMMENSE THANKS FOR YOUR pRECIOUS TIME & VALUBLE HELP .

 

Thank u sir.

. Sch OS Income from other Sources

1 Gross income chargeable to tax at normal applicable rates (1a+ 1b+ 1c+ 1d + 1e) 775409

a Dividends, Gross (ai +aii) 1a 0 ai

 Dividend income [other than (ii)] 1ai 0

aii Dividend income u/s 2(22)(e) 1aii 0 b

Interest Gross (bi + bii + biii + biv + bv+bvi+bvii+bviii+bix) 1b 555409

i From Savings Bank 1bi 165887

ii From Deposit (Bank/ Post Office/ Co-operative Society)

 1bii 385462

iii From Income Tax refund 1biii 171260-->( amount recd from IT, for the TDS deducted earlier . what ever I put here gets added tofor this year. income .out of 171260 – 4060 rs is the interest given by IN COME TAX DEPT..

MY DOUBT .

ADD 4060 AS INTEREST RECD - - BUT WHERE TO ENTER.

Balance amount – recd from IN COME TAX DEPT – WHERE TO ENTER ?.IF I ENTER 171260 – IN the coloum – in come tax refund recd -coloum – this amount gets added to the present income .

. iv In the nature of Pass through income\loss

 1biv v Interest accrued on contributions to provident fund to the extent taxable as per first proviso to section 10(11) 1bv

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
ARTICLESHIP 25 August 2026
CA Article's

Saini Pati Shah & Co LLP

Mumbai

CA Inter

View Details