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.
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