Question

Income tax refund is​

Answer 1

Answer:

A tax refund is a reimbursement to a taxpayer of any excess amount paid to the federal government or a state government. Taxpayers tend to look at a refund as a bonus or a stroke of luck, but it really represents an interest-free loan that a taxpayer makes to the government.Jun 30, 2020

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Answer 2

Answer:

person can claim the refund of the excess tax paid/deducted during a financial year by filing his or her income tax returns for that year. ... The ITR form is filled with information regarding salary income, interest income (in case TDS is deducted) and other details.

Explanation:

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