Income tax on interest on income tax refund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 June 2012
Dear Sir/madam
Whether income tax levied on interest on income tax refund or not. and if levied then which section of income tax act 1961 is to be levied...
Thanks
Whether income tax levied on interest on income tax refund or not. and if levied then which section of income tax act 1961 is to be levied...
Thanks
14 June 2012
yes, interst on refubd is taxable under the head of income from other sources
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