Interest on Refund Amount of income tax

930 views 1 replies

can any body tell me,

as  a practical step

 

Income Tax deptt done the assessment of assessment year08-09 in a.y 8-9,

but ITO not sign the cheques and not despactch the cheque

but in assessment  year 10-11 deptt send some cheques by hand and not despatch, Deptt not give any interest on refund amount upto Assessment  year10-11.

what we will do .

if any body give the answer send my mail id :- sanju_ca47 @ rediffmail.com

Replies (1)

Proviso to Sec. 244A(1)(a) states that if the refund due is less than 10% of the amount of tax determined u/s. 143(1), NO interest on refund would be payable to the assessee.

Check your refund based on the above yardstick.

If in your case the Refund is more than 10% of the amount of tax determined u/s. 143(1), then you should write to your assessing officer and claim your interest.

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