Tax on the refund amount?

Hi,

Will I have to pay tax on the refund amount?

2 Likes

We don’t have to pay Tax on refund of TDS.

2 Likes

No, there will not be any taxes on refund amount.
Since it is the excess tax contributed, Refund will not attract the taxes.

Instead Income tax department will give interest on the refund amount for the period it gets delayed.
This is payable by income tax department mandatorily, if the refund is 10% or more of tax paid,

Interest will be paid at 0.5% per month or part of the month on refund amount.

2 Likes
Powered by | India's No.1 Payroll and HR Software.
9000+ Clients
150 Cities
10 Lakh+ Users