Income tax refund

This query is : Resolved 

29 January 2015 what is the rate of interest on income tax refund?

29 January 2015 Refer section 244A.

Rate of Interest is 1/2% per 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.


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