Regarding refund intrest which is still awaited.
This query is : Resolved
20 December 2014
Dear sir,
i want to ask you that if i have refund amount of 50,00,000 and when we received the refund amount which is 60,00,000 and our refund amount till that day is 75,00,000.So our 5,00,000 is still pending there and regarding that we have filed the rectification u/s154 but we haven't received the refund amount for last one year. i want to know that, intrest will be levied on 5,00,000 or not.
i want to ask you that if i have refund amount of 50,00,000 and when we received the refund amount which is 60,00,000 and our refund amount till that day is 75,00,000.So our 5,00,000 is still pending there and regarding that we have filed the rectification u/s154 but we haven't received the refund amount for last one year. i want to know that, intrest will be levied on 5,00,000 or not.
Amol S Joglekar
(Expert)
20 December 2014
where has this figure of 500,000 come from? No any coneection between 50, 60 and 75 which can co relate 500,000? Can you please explain?
20 December 2014
you query is understandable by any1 ...so redraft it with all details in logical way
20 December 2014
SIR this is all are imaginary figures and i know this figures are not relating to each other.I only want to know if my interest on refund is pending for last 1 year. can i levied interest on interst on refund which is still pending
Amol S Joglekar
(Expert)
22 December 2014
Please understand a simple thing. The interest is calculated by the SYSTEM in all CPC cases. There is hardly any scope for ERROR. If you are claiming the CPC has given you refund WITHOUT INCLUDING THE INTEREST........This will be an EXCEPTIONAL situation. Highlight the same in your reply to CPC.
Rupesh Jain
(Expert)
22 December 2014
YOU HAVE OT CHECK THE REUND AMOUNT WITH THE PARTICULAR YEAR REFUND RECEIVABLE .
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