TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amended Section 243 mandates 9% interest on delayed tax refunds if not issued within three months of determination.</h1> Section 243 of the Income-tax Act, 1961, is amended to specify that if the Income-tax Officer fails to grant a refund within three months from the end of the month in which the total income is determined or the refund claim is made, the Central Government must pay the assessee simple interest at nine percent per annum on the refund amount. This interest is calculated from the day following the expiry of the three-month period until the refund order is issued. Delays attributable to the assessee are excluded from the interest calculation period.
TaxTMI 
TaxTMI 
