Tag Archives: Interest on Income Tax Refund

How to Claim Income Tax Refund & Interest on Refund ? (FA 2019)

By | April 26, 2019

REFUND OF EXCESS TAX PAID BY THE TAXPAYER [As amended by Finance Act, 2019] Many times it may happen that the taxpayer has paid excess tax as against the tax required to be paid by him. In such a case he is granted refund of the excess tax paid by him. In this part you… Read More »

Section 234D : How to calculate Interest on Excess Income Tax Refund wrongly given to Taxpayer [FA 2019]

By | April 26, 2019

INTEREST ON EXCESS REFUND At times it may so happen that the taxpayer is granted excess refund. Section 234D provides for levy of interest on excess refund granted to the taxpayer. In this part you can gain knowledge about various provisions relating to interest on excess refund granted to the taxpayer. Manner of computation of… Read More »

Taxability of Interest on Income Tax Refund

By | July 17, 2018

Taxability of Interest on Income Tax Refund Question:Whether the Interest on Income Tax Refund is chargeable to tax? if yes under which head ?  The amount received towards statutory interest i.e Interest on Income tax refund  has to be subject to tax under the head ‘Income from Other Sources’. Question :Whether interest on Income tax… Read More »