Interest rate u/s 50(3) has been reduced from 24% to 18% via FA 2022 and the same has been amended retrospectively.
So, will there be any adjustment for interest already paid @ 24% prior to this amendment?
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Interest u/s 50(3)
Replies (1)
Yes there must be . as many taxpayers have paid huge interest @ 24% .
As there is no clarification in this regard from department & department will never allow refund on same . But the case can be litigated.
As there is no clarification in this regard from department & department will never allow refund on same . But the case can be litigated.
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