Interest on refund.
This query is : Resolved
14 July 2012
A Govt. Employee has Net Taxable Total Income is Rs. 3,38,730/- for the A.Y. 2012-13. Net Tax Payable is Rs. 14,482/- after deducting TAX Relief u/s. 89(1). TDS for the year is Rs. 15,850/-. Thus, Refund is Rs. 1,368/- . Date of filing Return is 15/06/2012.
1) Whether Assessee is liable for the Interest on Refund u/s. 244A?
2) What is the minimum criteria and period for availing Interest on Refund u/s. 244A?
1) Whether Assessee is liable for the Interest on Refund u/s. 244A?
2) What is the minimum criteria and period for availing Interest on Refund u/s. 244A?
14 July 2012
1) No
2) Refund should not be < 10% of tax determined.
2) Refund should not be < 10% of tax determined.
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