why there is no TDS on Interest paid by Income Tax Department on Income Tax Refunds ? ? ?
Tds on int on i.t. refund
CA Sandeep Tibrewal (Practice) (34 Points)
01 October 2012
CA Sandeep Tibrewal (Practice) (34 Points)
01 October 2012
why there is no TDS on Interest paid by Income Tax Department on Income Tax Refunds ? ? ?
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 02 October 2012
One cannot pay the tax to itself. If govt deducts tax and pays it to itself that does not make any meaning. So TDS is not made on interest in I-T refund.
durga prasad bahety
(CA FINAL)
(120 Points)
Replied 12 October 2012
"As per Section 194A(viii), this section does not apply to such income credited or paid by the Central Government under any provision of this act or the Indian Income Tax Act,1922 or the Estate Duty Act,1953 or the Wealth- Tax Act or the Gift-tax Act or the Interest- Tax Act. etc.,........."
Sir, hope i am able 2 make u understand that y IT dept. did not deducted TDS on interest on I.T.Refund.
Please ask more question so we as an article would be able to excel our knowledge.
Thanking You.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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