Interest on Income Tax Refund, Income Tax

[Dinesh Sagade]

Interest on income tax refund .. is it taxable...if so.. under which head ? As income tax along with its interest is disallowed specifically..logically & acco. to matching concept interest on refund of income tax should be exempted...is it right ?

Posts / Replies

[Srinivas K]

Income Tax Act provides that only the Interest on Income tax refunds is taxable. It comes  under the head Income from other sources.

Srinivas

Artha Tax Consulting, Chennai

[Vivek Harsh]

It will be taxable under the head "Income From Other Source"