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Rate of interest on income tax refund

Others 277 views 3 replies
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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