Interest on income tax refund
This query is : Resolved
03 February 2012
What is the rate of Interest on Income Tax Refund and from which date it should be calculated
03 February 2012
Rate of interest is 1/2% for every month or part of a month.
Period is:-
i) if refund is out of tax paid/deducted at source/collected u/s 206C, then interest to be calculated from 1st April of the assessment year to the dated of granting of refund.
ii) In any other case from the date of payment to the date on which the refund is granted.
Period is:-
i) if refund is out of tax paid/deducted at source/collected u/s 206C, then interest to be calculated from 1st April of the assessment year to the dated of granting of refund.
ii) In any other case from the date of payment to the date on which the refund is granted.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Free lancer income
- STCG FOR GOLD ETFs
- Loan by Partnership Firm
- TDS related Query_Liquidated Damages
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
