Hi
I believe interest on TDS refund will be paid from Apr 01 after completion of AY. For ex. if I am getting a refund for AY 08-09, interest will be paid from 1.4.09 @ .5% pm.
Please correct me if I am wrong.
H S Rajashree (MBA in Finance) (221 Points)
07 July 2009Hi
I believe interest on TDS refund will be paid from Apr 01 after completion of AY. For ex. if I am getting a refund for AY 08-09, interest will be paid from 1.4.09 @ .5% pm.
Please correct me if I am wrong.
Sagar
(Student)
(142 Points)
Replied 07 July 2009
No man as per my point of view interest is calculated from 01.04.2008 until you do not claim your refund. I am not sure about the rate but i guess the rate of interest charged by the SBI on loan is the same rate of interest provided by the income tax office on your refunds.
LAXMIKANT JAIPURKAR
(Practicing Company Secretary/Tax Consultant)
(403 Points)
Replied 07 July 2009
Interest on refund is payable w.e.f. the next day of the financial year ending @ 6% p.a. but only when the return is filed within due date. Otherwise you will receive the interest from the date of filing of the return and not from the 1st Aprl,
H S Rajashree
(MBA in Finance)
(221 Points)
Replied 08 July 2009
| Originally posted by :LAXMIKANT JAIPURKAR | ||
| " |
Thank you!!
Interest on refund is payable w.e.f. the next day of the financial year ending @ 6% p.a. but only when the return is filed within due date. Otherwise you will receive the interest from the date of filing of the return and not from the 1st Aprl, |
" |
praveen
(Chartered Accountant)
(6971 Points)
Replied 08 July 2009
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