Update
CBDT has clarified that if a resident deductor is entitled for the refund of tax deposited under Section 195 of the Act, then it has to be refunded with interest under section 244A of the Act, from the date of payment of such tax.
This clarification has been issued by board in consequence to decision of the Hon’ble Supreme Court of India in the case of Tata Chemical Limited 2014-TIOL-27-SC-IT.
is it Query of Information???
See amendment to 244A in the Budget.
You will be paid interest on refund if it is 10% more than tax liability.
Only if you file return before due date the interest will be paid from 1st April of AY.
Else from the date of filing the return. see the link
https://incometaxindia.gov.in/Acts/Finance%20Acts/2016/102120000000058928.htm
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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