Intrest on delayed paymet of refunds

[Bipin Shah]

Intrest on delayed paynet of refunds we are getting. But the interest we got after delay of 3 years . Means our claim for interest on delayed payment of interest is permissioble to us or not as the interest on delayed payment is to be paid with in 3 months time.

[Mukesh Kumar]

There is no provision for payment of interest on interest. Therefore, you would not get any amount of interest on delayed payment of interest.

AI Summary

Interest on interest is not payable on delayed refund payments under applicable provisions. The operative position is that there is no provision for payment of interest on interest; consequently, when a refund is paid late and interest is awarded for the delay, no additional interest accrues on that awarded interest.