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Calculation of interest u/s 244a after appeal effect
An order u/s 143(3) was passed on 25/12/2017 raising a demand of Rs. 53,12,950/-. An amount of Rs.10,65,000/- was paid on 06/01/2018 and an appeal was filed. Further appeal was allowed and after appeal effect on 17/06/2020 demand became NIL and a refund of Rs 10,65,000/- was arised. What should be the actual interest u/s 244a for this refund?
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| Originally posted by : Pallob Deria | ||
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An order u/s 143(3) was passed on 25/12/2017 raising a demand of Rs. 53,12,950/-. An amount of Rs.10,65,000/- was paid on 06/01/2018 and an appeal was filed. Further appeal was allowed and after appeal effect on 17/06/2020 demand became NIL and a refund of Rs 10,65,000/- was arised. What should be the actual interest u/s 244a for this refund? |  |
Interest should be calculated from actual payment of Tax to Till the date till the date refund grant
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