Rate of interest on refund

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 22 September 2023

From where...???

Surya prakash

2 Points Posted on 22 September 2023

From income tax department

Ashwin Kumar

CA ipcc

449 Points Posted on 22 September 2023

I think it's 1.5% per month

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 22 September 2023

On income tax refund you may get 6% per annum.

That means 0.5% per month .

Refer Section 244A of income tax act

RAHUL RAJU

127 Points Posted on 22 September 2023

0.5% per month simple interest

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 23 September 2023

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

sabyasachi mukherjee

Profession Business

28207 Points Posted on 23 September 2023

The queries must mention in detail what are the issues involved is it for refund or late payment.

Sparsh Wadhwa

Tax Preparation service

3313 Points Posted on 26 September 2023

0.5% per month. can contact us at 9024 Nintyone 5488. Thanks

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Shiva kumar

RAJA P M

Surya prakash

Ashwin Kumar

Eswar Reddy S

RAHUL RAJU

Eswar Reddy S

sabyasachi mukherjee

Sparsh Wadhwa

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Rate of interest on refund

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