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Rate of interest on income tax refund
sir, normally, how much rate of interest is charged on our refund, I mean corporate refunds
Replies (3)
Interest at 0.5% per month (i.e 6% per annum) is paid from 1st April till date of refund.
No refund is payable if the Refund is less than 10% of tax payable.
Sir. could you help me out with the relevant section sir
As per U/s 244A Eligible to receive interest @ 6% on delay in refund to the taxpayer.
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