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Interest on refund where no claim is needed - Section 244 - Income Tax - Ready Reckoner - Income TaxExtract ..... e date on which the refund is granted. [ Section 244(1) ] Where the whole or any part of the refund referred to in sub-section (1) is due to the assessee, as a result of any amount having been paid by him after the 31st day of March, 1975 , in pursuance of any order of assessment or penalty and such amount or any part thereof having been found in appeal or other proceeding under this Act to be in excess of the amount which such assessee is liable to pay as tax or penalty, as the case may b ..... x x x x x Extracts x x x x x Interest on refund where no claim is needed - Section 244 - Income Tax - Ready Reckoner - Income Tax x x x x x Extracts x x x x x ..... the Central Government shall pay interest at the rate of simple interest at 15% per annum on the amount of refund ultimately determined to be due as a result of the appeal or further proceeding for the period commencing after the expiry of three months from the end of the month in which the order referred to in section 241 is passed to the date the refund is granted. [ Section 244(2) ] The provisions of this section shall not apply in respect of any assessment for the assessment year comme ..... x x x x x Extracts x x x x x Interest on refund where no claim is needed - Section 244 - Income Tax - Ready Reckoner - Income Tax x x x x x Extracts x x x x x
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