Where any refund is payable to the assessee, the assessee is entitled to receive interest along with the refund as per the following provisions- When refund is of any advance tax paid or TDS or TCS – The interest is payable at the rate of 0.5 percent per month or
If the assessee is granted refund under section 143(1) when no refund is due on regular assessment or granted excess refund under section 143(1) then the assessee is liable to pay simple interest at the rate of 0.5% per month of part of the month from the date of refund
Interest is payable by assessee under section 234C for non payment or under payment of advance tax. Rate of Interest – Simple Interest @ 1% per month or part of month Interest is calculated by Non Corporate Assessee as provided under:- Interest is Payable under Section 234C if Period of Interest
An assessee who is liable to pay advance tax but failed to pay such tax or tax paid by him is less than 90% of the assessed advance tax, is liable to pay interest under this section. Rate of Interest – Simple interest @ 1% per month or part of
An assessee is liable to pay interest under section 234A if Return is furnished after due date of furnishing return or Return is not furnished Rate of interest – 1% (simple interest) per month or part of month Period – Interest is calculated from the date immediately after due date
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