What is the interest rate on income tax refund? and from which date one should calculate the interest
I received the income tax refund for AY 2009-10 in Feb,11, so from which date i should calculate the interest.
Int. rate on IT Refund is 1/2% for a month or part of a month from the first day of the AY(if refund is of advance tax) in all the other cases 1/2 % from the date of payment of such tax till the grant of refund
Your are not logged in . Please login to post replies
Click here to Login / Register
view more »
Our Network Sites
Alternatively, you can log in using:
Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.