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Interest rate u/s 234D
What % of Interest rate is charged u/s 234D ?
Replies (1)
Under section 234D interest is levied if any refund is granted to the taxpayer under section 143(1) and
:a) no refund is due on regular assessment; or
b) the amount refunded under section 143(1) exceeds the amount refundable on regular assessment.
Interest under section 234D is levied @ ½ % per month or part of the month
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