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Querist : Anonymous
Querist :
Anonymous
(Querist)
04 April 2012
Dear expert,
An assessee who has received the income tax refund of Rs. 45000/- + Int. 1800/- = Total 46800/- in AY 2011-12 and his return was filed u/s 44AD. While filing return of AY 2012-13, besides his business income, do he requires to show the int of 1800/- in the head of income from other sources or not.
An assessee who has received the income tax refund of Rs. 45000/- + Int. 1800/- = Total 46800/- in AY 2011-12 and his return was filed u/s 44AD. While filing return of AY 2012-13, besides his business income, do he requires to show the int of 1800/- in the head of income from other sources or not.
04 April 2012
Yes Interest on Refund is taxable income and will be shown in the head "Income from Other Sources".
CA Chetan Parmar
093778 97651
Surat
CA Chetan Parmar
093778 97651
Surat
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