TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
TaxTMI 
Login
Just a moment...
By creating an account you can:
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 TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income Tax Bill 2025 Clause 437 maintains 0.5% monthly interest on tax refunds with enhanced clarity</h1> The Income Tax Bill 2025's Clause 437 governs interest on tax refunds, mirroring the existing Section 244A of the Income-tax Act 1961. The provision entitles taxpayers to 0.5% monthly interest on refunds, with specific calculation periods based on refund type. Additional 3% annual interest applies to refunds from appellate orders. The clause excludes interest on refunds below 10% of assessed tax and periods attributable to taxpayer delays. It covers both regular taxpayers and tax deductors, providing mechanisms for interest adjustment and dispute resolution. The modernized provision maintains substantive alignment with current law while improving clarity through tabular formats.
TaxTMI 