04 January 2013
Hi, I want to know IT dept will give Intrest on our TDS amount. Actually 57000/- deducted from my income u/s 194H for the Financial year of 2011-12. TDS done by quarterly basis. now i applied for TDS refund. can i able to receive Interest on my TDS or not ? If possible @ what rate per annum. Please revert.
04 January 2013
Yes you will be allowed an interest on the excess tds deducted. Interest rate is 6% pa. Interest will be allowed for the period starting from 1st aprail of the assessment year till the date the refund is allowed.
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