Interest on refund
This query is : Resolved
bharat chandran
(Querist)
03 September 2018
Individual Return filed on 13-10-17 for Ay 17-18. Refund amount is Rs.23,27,610. Date of refund 29-05-2018. What would be the amount to be received along with interest. Anybody can explain?
KAVIRAJA ADDANGADI
(Expert)
03 September 2018
Under Section 244A of the Income-Tax Act, a taxpayer is entitled to interest at 0.5% for every month (6% per annum) from the first day of April of the assessment year to the date on which the refund is granted
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