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Intrest on tds

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JB ILIYAS (Querist)
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04 January 2013 Hi, I want to know IT dept will give Intrest on our TDS amount.
Actually 57000/- deducted from my income u/s 194H for the Financial year of 2011-12.
TDS done by quarterly basis.
now i applied for TDS refund. can i able to receive Interest on my TDS or not ?
If possible @ what rate per annum.
Please revert.

Pankaj Gupta

Pankaj Gupta (Expert)
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04 January 2013 Yes you will be allowed an interest on the excess tds deducted. Interest rate is 6% pa. Interest will be allowed for the period starting from 1st aprail of the assessment year till the date the refund is allowed.

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