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Interest rate

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 August 2014 what is interest rate on income tax refund.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
21 August 2014 Refer section 244A.

Rate of Interest is 1/2% per month or part of a month from the first day of the AY (if refund is of advance tax) in all the other cases 1/2 % from the date of payment of such tax till the grant of refund.
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Querist : Anonymous

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Querist : Anonymous (Querist)
21 August 2014 Thanks Sir for nice reply.
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CA P K AGRAWAL

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CA P K AGRAWAL (Expert)
21 August 2014 I m agree with Mr. Sanjay Gupta
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