Interest on Refund
This query is : Resolved
06 January 2020
For AY 2008-09 we had received a demand notice against which we had filed appeal.
Demand amount - 43 Lacs which we paid in full on 6th Feb, 2010
Appeal came in our favor & order was passed with zero tax payable on 03rd may, 2018
Now interest on refund of tax paid ( which is 43 lacs) will be calculated from which date? whether it is from the date of Tax paid or from the date of passing order of appeals or any other date & at what rate?
we have not received refund till today.
Demand amount - 43 Lacs which we paid in full on 6th Feb, 2010
Appeal came in our favor & order was passed with zero tax payable on 03rd may, 2018
Now interest on refund of tax paid ( which is 43 lacs) will be calculated from which date? whether it is from the date of Tax paid or from the date of passing order of appeals or any other date & at what rate?
we have not received refund till today.
08 January 2020
It is supposed that till now, you might have submitted before AO, for refund of tax paid alongwith appeal order for giving its effect. Interest on Refund would be calculated from the date on which you had paid tax @ 0.5% p.m. You must again approach A.O. for refund sine it is long since decision of appeal.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
