Interest on income tax refund

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 May 2015 interest on income tax refund of assesses paid excess through TDS or advance tax , from which date assesses can obtain interest from gov and what rate of interest paid to assesses.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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31 May 2015 Under Section 244A of the Income-Tax Act, a taxpayer is entitled to interest at the rate of 0.5 per cent for every month from the first day of April of the assessment year to the date on which the refund is granted.