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of <h1>Interest on Tax Refunds: Section 244A Details Rates, Conditions, and Exclusions for Taxpayer Refunds</h1> Section 244A of the Income Tax Act outlines the provisions for interest on refunds due to taxpayers. If a refund arises from tax collected at source, advance tax, or self-assessment tax, interest is calculated at 0.5% per month from relevant dates until the refund is granted. Additional interest of 3% per annum is applicable for refunds resulting from appellate orders. Interest is not payable if the refund is less than 10% of the tax determined. Delays attributable to the taxpayer or deductor exclude the period from interest calculations. Adjustments to interest occur if the refund amount changes due to subsequent orders. These provisions apply from the assessment year starting April 1, 1989, and for fringe benefits from April 1, 2006.
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