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refund

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Querist : Anonymous

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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.
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
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
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