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Whatever be the reason for the delay, there is no justification for the same as the Income-tax Department cannot retain the funds due to the public indefinitely, though interest is payable on the refund, if not granted within three months from the end of the month in which the return is filed. The interest will be 15%, but again taxable as income of the taxpayer.
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ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
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