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Rate of interest on refund
at what percentage of interest we will get a refund
Replies (8)
Quick Summary
From where...???
From income tax department
I think it's 1.5% per month
On income tax refund you may get 6% per annum.
That means 0.5% per month .
Refer Section 244A of income tax act
That means 0.5% per month .
Refer Section 244A of income tax act
0.5% per month simple interest
But from which month refund will be given ?
If ITR filed in July , earlier department used to give interest from April to till the date of processing ITR at 0.5% per minth
If ITR filed in July , earlier department used to give interest from April to till the date of processing ITR at 0.5% per minth
The queries must mention in detail what are the issues involved is it for refund or late payment.
0.5% per month. can contact us at 9024 Nintyone 5488. Thanks
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