Home > Experts > Income Tax > Section 244A


Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


Section 244A (Income Tax)

Report Abuse
This query is : Resolved


( Author )
02 July 2010

as per Explanation of Section 140A:-

Where the amount paid by the assessee under this sub-section falls short of the aggregate of the tax and interest as aforesaid, the amount so paid shall first be adjusted towards the interest payable as aforesaid and the balance, if any, shall be adjusted towards the tax payable.


Is the Same concept be used in case of multiple refunds from the Income Tax Department.


Aditya Maheshwari

( Expert )
02 July 2010

First the department calculates the tax refund due and then interest u/s 244A is charged on the refund.


SUMIT SHARMA

( Author )
02 July 2010

but what happens if the Department is issued multiple refunds? What is the procedure in case of calculating Amount of Refund and Interest U/sec 244A


Aditya Maheshwari

( Expert )
02 July 2010

Then also they calculate the total amount to be refuneded along with interest and then less the amount already refunded in totality. In calculation of interest of multiple refunds the amount already refunded in respective of tax should only be deducted.


SUMIT SHARMA

( Author )
02 July 2010

Can you refer any judgement for the same?


Aditya Maheshwari

( Expert )
02 July 2010

I dont know of any judgement for the same.

If i come to know will revert on it.

Mostly there will not be any judgement as the same is just a procedural aspect which can be corrected by an application for rectification u/s 154 also.


SUMIT SHARMA

( Author )
02 July 2010

Is the department use same approach as explained in Section 244A.


Aditya Maheshwari

( Expert )
02 July 2010

They should follow.

If they dont then u can get the intimation of calculation sheet whatever applicable retified u/s 154.


Previous

Next

You need to be the querist or approved CAclub expert to take part in this query .


Click here to login ( Members Login ) now


Similar Resolved Queries :











submit










Quick Links





back to the top