20 November 2010
If we submit our Income tax return form after due date and we claim refund from my Income tax return, in this case interest or penalty will be deducted from my refund amount or we will get proper refund.
20 November 2010
Generally, no penalty or interest is levied on the refund amount.
Since the filing has been made after the due date, the AO may ask/inquire why the return was not filed wothin due date.
For refund processing from the department voulantary, may take months dont be suprised even it takes years. Follow up with the department to get the refund amount.
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