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of <h1>Interest on Delayed Estate Duty Refunds: Calculate from Payment to Refund Order Date, 8% Rate per Section 64(7.</h1> The circular addresses the period for which interest is to be allowed under Section 64(7) of the Estate Duty Act. It states that interest on delayed refunds should be calculated from the date of payment of excess estate duty until the date of the refund order, aligning with Section 244(1A) of the Income-tax Act, 1961. The interest rate is set at 8%, as per a previous instruction. This information is directed to all Controllers of Estate Duty and Commissioners of Income-tax to ensure compliance and uniform application of this decision.
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