Interest calculation on income tax refund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 November 2011
i had filed my it returns for ay 10-11 on 28.7.10 with refund due to me of Rs 22216/-
I have received refund of Rs 24440/- on 9.11.11 implying that i have been paid a interest of 2224/-. The refund was primarily on account of tds from interest income.
Please guide as to how this interest is calculated and whether i have received the correct amount
I have received refund of Rs 24440/- on 9.11.11 implying that i have been paid a interest of 2224/-. The refund was primarily on account of tds from interest income.
Please guide as to how this interest is calculated and whether i have received the correct amount
CA PARAS BAFNA
(Expert)
13 November 2011
Interest on refund is granted @ 1/2% per month. It has been calculated from 1.4.2010
to the date of refund granted.
.
You have been correctly paid.
.
Interest for 20 months @ 0.5% on Rs 22200/ has to be calculated.
.
to the date of refund granted.
.
You have been correctly paid.
.
Interest for 20 months @ 0.5% on Rs 22200/ has to be calculated.
.
Message likes :
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CA Deepak S
(Expert)
18 November 2011
Agree with the expert
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