refund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2009
AS PER INCOME TAX RULE ANY TIME PERIOD SPECIFED FOR REFUND BY THE INCOME TAX AUTHORITIES IF YES THAN PLEASE GUIDE.
09 December 2009
A person has to make a claim (Form No.30) within one year from the end of the assessment year. Sec. 239(c)
However-
if refund is not issued within 3 months from the end of the month of the assessment
or
after making a claim for refund within 3 months from the end of the month of such claim;
simple interest @ 15% is allowable from the expiry of such 3 months. Sec. 243
Practically; now-a-days the department is issuing refunds if you file an Indemnity Bond declaring not received the refund due togetherwith documents of return filed; then they issue refund without enquiring further.
Ca Rakhecha
Surat
However-
if refund is not issued within 3 months from the end of the month of the assessment
or
after making a claim for refund within 3 months from the end of the month of such claim;
simple interest @ 15% is allowable from the expiry of such 3 months. Sec. 243
Practically; now-a-days the department is issuing refunds if you file an Indemnity Bond declaring not received the refund due togetherwith documents of return filed; then they issue refund without enquiring further.
Ca Rakhecha
Surat
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
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
