How previous year’s interest component of Income Tax Refund should shown in current year return. Example suppose my excess TDS was ₹1000 and my refund is ₹1010. Then how show this ₹1000 & ₹10 income.
Hey @SKhamaru,
So, Income Tax Refund is not considered taxable income. Tax is to be paid only on Interest on Income Tax Refund. So, please show Interest component of Income Tax Refund under the head Income from Other Sources. The Refund amount received is exempt.