Interest on income tax refund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 May 2015
interest on income tax refund of assesses paid excess through TDS or advance tax , from which date assesses can obtain interest from gov and what rate of interest paid to assesses.
31 May 2015
Under Section 244A of the Income-Tax Act, a taxpayer is entitled to interest at the rate of 0.5 per cent for every month from the first day of April of the assessment year to the date on which the refund is granted.
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