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Refund

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(Querist)
19 June 2009 whether Refund received from IT department be treated as income in the year of receipt?
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Ratan Sharma

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Ratan Sharma (Expert)
19 June 2009 No, Income tax refund is not chargeable to tax as your income. However interest received from income tax office on your refund is chargeable to tax.

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