sandeep gupta (Advocate) (82 Points)
28 May 2010can any body tell me,
as a practical step
Income Tax deptt done the assessment of assessment year08-09 in a.y 8-9,
but ITO not sign the cheques and not despactch the cheque
but in assessment year 10-11 deptt send some cheques by hand and not despatch, Deptt not give any interest on refund amount upto Assessment year10-11.
what we will do .
if any body give the answer send my mail id :- sanju_ca47 @ rediffmail.com
Rachit
(Analyst)
(913 Points)
Replied 28 May 2010
Proviso to Sec. 244A(1)(a) states that if the refund due is less than 10% of the amount of tax determined u/s. 143(1), NO interest on refund would be payable to the assessee.
Check your refund based on the above yardstick.
If in your case the Refund is more than 10% of the amount of tax determined u/s. 143(1), then you should write to your assessing officer and claim your interest.
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