Interest on Income Tax Refund

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..... Interest on Income Tax Refund
Query (Issue) Started By: - Dinesh Sagade Dated:- 18-5-2012 Last Reply Date:- 19-5-2012 Income Tax
Got 2 Replies
Income Tax
Interest on income tax refund .. .....

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..... 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.. .....

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..... .is it right ? Reply By Srinivas K: The Reply: 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 Ta .....

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..... x Consulting, Chennai Reply By Vivek Harsh: The Reply: It will be taxable under the head "Income From Other Source"
Discussion Forum - Knowledge Sharing .....

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