know interest amt included in refund

[rajul begani]

sir,

how can one know the interst amt included in refund? 26As only tells us abt the Refund Amt.

 

[DR.MARIAPPAN GOVINDARAJAN]

While sanctioning the refund the Department itself will calculate interest, if it is eligible and pay the same. Now the system is made is clear. While filing your return if any amount is refundable, refund is granted within 3 months from the filing of the return. The system will calculate interest, if any payable and pay the same along with interest.

AI Summary

Understanding Interest in Tax Refunds: Tax Department Automatically Calculates and Includes Interest in Refunds Within Three Months A user inquired about determining the interest amount included in an income tax refund, noting that Form 26AS only shows the refund amount. A respondent clarified that the tax department calculates and includes any eligible interest in the refund. The current system ensures that if a refund is due, it is processed within three months of filing the return, with any applicable interest automatically calculated and included.