TMI BlogPayment of interest on refund under section 244A of excess TDS deposited under section 195 of the Income tax Act, 1961X X X X Extracts X X X X X X X X Extracts X X X X ..... section 244A of excess TDS deposited under section 195 of the Income tax Act, 1961-reg. The procedure for refund of tax deducted at source under section 195 of the Income tax Act, 1961 , to the person deducting the tax is delineated in CBDT Circular No. 7/2007 dated 23.10.2007 . Circular No. 7/2007 states that no interest under section 244A of the Act, is admissible on refunds to be granted in ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The State having received the money without right, and having retained and used it, is bound to make the party good, just as an individual would be under like circumstances. The obligation to refund money received and retained without right implies and carries with it the right to interest. 3. In view of the above judgment of the Apex Court it is settled that if a resident deductor is entitled for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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