Sec 274d

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Mahesh Babu

Mahesh Babu (Querist)
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16 December 2013 Dear experts / friends please tell me about sec 234d

Nikhil Kaushik

Nikhil Kaushik (Expert)
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17 December 2013 INTEREST U/S 234D: Interest @ 0.5% is levied under this Section when any refund is granted to the assessee u/s 143(1) and on regular assessment it is found that either no refund is due or the amount already refunded exceeds the refund determined on regular assessment. The said interest is levied @ 0.5% on the whole or excess amount so refunded for every month or part thereof from the date of grant of refund to the date of such regular assessment.

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