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of <h1>Income Tax Bill 2025: Clause 437 Details Interest on Tax Refunds, Conditions, and Adjustments for Refund Changes</h1> Clause 437 of the Income Tax Bill, 2025, outlines the provisions for interest on tax refunds. If a refund is due, the assessee is entitled to simple interest at 0.5% per month for the specified period. Interest is not payable if the refund is less than 10% of the determined tax. Additional interest at 3% per annum is granted for certain orders. Delays attributable to the assessee or deductor exclude the corresponding period from interest calculations. Adjustments to interest are made if the refund amount changes due to subsequent orders, with a notice of demand issued for excess interest.
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