For FY 2015-2016, 15G was not submitted, so TDS was cut by bank, claimed for TDS refund by filing ITR-2.
TDS cut was 10,363, claimed for the same but received 10,620. Received 257 more.
Does this 257 belong to the next year's TDS which has been cut by the bank and submitted to IT department but not shown in 26AS yet or is it a mistake?
What should we do?
| Originally posted by : Chetan Tandon | ||
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Rs 257 is of interest received on income tax refund |  |
So for the time the TDS cut that has been with the IT department, they payed interest?
Thank you for the information Chetan.
Don't worry and just enjoy the extra amount. It is interest on your hard earned money which you paid to the tax authorities in excess of your tax liability.
Its the interest element
| Originally posted by : Suresh Jain | ||
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Don't worry and just enjoy the extra amount. It is interest on your hard earned money which you paid to the tax authorities in excess of your tax liability. | |
| Originally posted by : CA.Vinita Gupta | ||
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Its the interest element | |
Thank you for the information.
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