(a) income received in respect of the units of a Mutual Fund specified under clause (23D); or
(b) income received in respect of units from the Administrator of the specified undertaking; or
(c) income received in respect of units from the specified company:
Provided that this clause shall not apply to any income arising from transfer of units of the Administrator of the specified undertaking or of the specified company or of a mutual fund, as the case may be.
as per Section 10(33).
Income tax refund is not our income. Interest on income tax refund is our income.
15 July 2010
Interest received on Tax free bond of UTI is not taxable. Any other interest not in the form of dividend is received from UTI is taxable.Income tax redund is not an income but interest received on refund is taxable.
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