Interest on refund section 244a

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Sanjana (Querist)

18 February 2014 Hi,

I have received Refund for A. Y. 2010-11
Intimation dated 16 May 2011 and
Cheque dated 07 June 2011

Above Refund is for TDS & Advance Tax.

For how many months should I receive the Interest?

1. 01/04/2010 to 16/05/2011: 14 months
2. 01/04/2010 to 16/05/2011: 15 months
3. 01/04/2010 to 30/04/2011: 13 months (ignoring part of a month)

Nikhil Kaushik

Nikhil Kaushik (Expert)

18 February 2014 you need to compute till date of the refund voucher....however, normally tax department computes only till the date of assessment order. you need to include each part of month...so normally the computation will be from 1 April 2010 to 30 May 2011 ie 14 months.

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Sanjana

Sanjana (Querist)

03 March 2014 Yes....true...Interest should be uptil date of refund voucher i.e. June 07, 2011 i. e. 15 mnths. However department has given only for 13 mnths....as said by you...

Should we write back and claim for the differential?

Nikhil Kaushik

Nikhil Kaushik (Expert)

03 March 2014 Dear Sanjana,

Ya you can. you file a rectification application also under section 154.

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