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Interest on refund

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Guest (Querist)
10 August 2011 Please advise on taxability of interest on IT refunds..

If taxable, is it on cash or accrual basis or optional??
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
10 August 2011 It is taxable as Income from other sources

need to be taken as cash basis
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
10 August 2011 You have to take it on Cash basis.
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