If you’ve filed your income tax return and are still waiting for your refund, you’re not alone. Many taxpayers in India experience refund delays even months after filing. The good news is that under Section 244A of the Income Tax Act, 1961, the government must pay interest on delayed refunds provided the delay isn’t caused by the taxpayer. The interest rate is fixed at 0.5% per month or 6% per annum, calculated as simple interest on the refundable amount. Interest begins from
If you’ve filed your income tax return and are still waiting for your refund, you’re not alone. Many taxpayers in India experience refund delays even months after filing. The good news is that under Section 244A of the Income Tax Act, 1961, the government must pay interest on delayed refunds provided the delay isn’t caused by the taxpayer. The interest rate is fixed at 0.5% per month or 6% per annum, calculated as simple interest on the refundable amount. Interest begins from