09 December 2009
A person has to make a claim (Form No.30) within one year from the end of the assessment year. Sec. 239(c)
However-
if refund is not issued within 3 months from the end of the month of the assessment
or
after making a claim for refund within 3 months from the end of the month of such claim;
simple interest @ 15% is allowable from the expiry of such 3 months. Sec. 243
Practically; now-a-days the department is issuing refunds if you file an Indemnity Bond declaring not received the refund due togetherwith documents of return filed; then they issue refund without enquiring further.
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