Interest On Income Tax Refund U/s 244a

FOR DEPARTMENTAL USE ONLY - Income Tax Department
Returned income (to be entered) vi. Refund, if any (Optional) vii. Type of return (by default) viii. any other direct tax law. No interest u/s. 244A, is admissible on refunds to be granted in accordance with this circular. ... Fetch Doc

Commissioner Of Income-tax Vs
Whether interest u/s 244A could be allowed on excess payment of self assessment tax? Even though the short title to section 140A of the Income-tax Act, 1961, Even for refund of the tax paid under section 140A on self-assessment, ... Access This Document

UNIVERSAL KNOWLEDGE HUB: CA CS ICWA KNOWLEDGE HUB - CA Firms ...
Deductors can navigate to 'Statement / Payments' -> 'Request for Refund' Payment of Interest u/s 244A of Income Tax Act 1961 when assessee is not at fault. ICAI President meets President of India || ICAI Facebook YouTube Twitter; About Us; Tds Calc Salary A/Y 2014-15; CA Results; Chat; ... View Video

DEDUCTOR CAN CLAIM REFUND OF TAX DEDUCTED U/S 195 Circular No ...
Income-tax or the Director General of Income-tax concerned. ¾ In case of refund being made to the deductor, the AO may, after giving him ¾ No interest u/s 244A is admissible on refunds to be granted. Time-limit for making the claim: ... Return Document

APPSC CHRONICLE
Yet all have made significant recent progress in school attendance, life expectancy and per capita income growth, the data shows.<br /><br />Most countries in higher HDI brackets also recorded steady HDI gains since 2000, ... Read Article

IN THE INCOME TAX APPELLATE TRIBINAL - ALL INDIAN TAXES
And hence not eligible for interest u/s. 244A which had caused grave injustice to the assessee resulting in a short refund of interest u/s. 244A. While granting the refund, the Income Tax Officer allowed interest u/s. 244 of the Act in respect of the amount representing income-tax and ... Access Doc

HIGH COURT RULING
Considered as refund of sale tax paid. 2011 -TIOL-318 -HC Sections 115JAA, 244A – Whether assessee is entitled to interest u/s 244A on the amount which became refundable to section (6) or (7) of Sec 206C is appealable u/s 246 of the Income tax Act. 2011 -TIOL-238 -HC ... Doc Viewer

RESERVED ON: MAY 05, 2011 PRONOUNCED On: JULY 11, 2011
Section 244A of the Income Tax Act (‘the Tax’ in short). The AO included substantial income earned by the assessee while computing received undue interest u/s 244A on the refund of Rs.74,52,135/- already granted which is not permissible in law. ... Access This Document

THERE IS NO PANELTY ON LATE FILING OF INCOME TAX RETURN
INCOME TAX RETURN Due date of filing of income tax return for Assessment Year 2011-12 (financial year 2010-11) Loss of Interest on refund:You may loose interest on refund u/s 244A as delay in filing is attributable to assessee for the period by which you have filed late return. ... Fetch Document

PowerPoint Presentation
Point 1: What do you mean by Income tax paid or payable? Defined in Explanation 2 to 115JB: Includes Dividend Distribution Tax, Any Interest, Delhi High Court Assessee is entitled to interest u/s 244A on the refund calculated after set-off of MAT Credit? ... Retrieve Content

Interest on Income tax Refund Cannot Be Denied If Assessee Is ...
Interest on Income tax Refund cannot be denied if assessee is not at fault – CBDT Instruction No. 7/2013 F. All Chief-Commissioners of lncome Tax All Director General of Income Tax Subject: Payment of interest u/s 244A of Income Tax Act 1961 when assessee is not at fault -regarding. ... Access Document

INTEREST - Ajay Garg
(for purpose of interest payable u/s. 140A, the tax on total for purposes of interest payable u/s. 140A, the tax on total income declared in of advance tax paid up to 15th March from tax due on returned income. 1% p.m. or part thereof for one month 234D Interest on excess refund ... Access Content

Slide 1
Refund of Tax Withheld u/s 195 Refund is first to be adjusted against any existing tax liability Interest u/s 244A is not payable on such refunds Undertaking * Direct Tax Code Provisions substantially at par with Income Tax Act Refund of Tax Withheld u/s 195 206AA ... Access Document

Interest And Penalties Under Income Tax Act - HOME - UdyogTax
The following table explains in brief all the provisions relating to Interest and penalties under the Income tax act, 1961: 244A Interest on refund due to the assessee of tax u/s. 115-O. Equal to the amount failed to be ... View Document

$~ IN THE HIGH COURT OF DELHI AT NEW DELHI DECIDED ON: 28.08
COMMISSIONER OF INCOME TAX-XI & ORS. .. Respondents Further the issue of interest claimed by the assessee u/s 244A has also been discussed in the counter affidavit submitted cases was concerned with refund of tax amount in the course of regular assessment. In this case, ... Retrieve Content

IN THE INCOME TAX APPELLATE TRIBUNAL
In the income tax appellate tribunal. special bench: cochin. before hon’ble president shri vimal gandhi, shri n.barathvaja sankar, account member and ... Fetch This Document

CENTURY ENKA LIMITED UNAUDITED FINANCIAL RESULTS FOR THE ...
3 Profit from Operations before Other Income, Interest , Exchange Fluctuation & 3,668 431 13,622 5,335 6,948 Interest Income includes Rs.224 Lacs on account of interest on Income Tax refund u/s 244A of the Income Tax Act, 1961. 6) The Company has only one geographical and business segment ... Visit Document

Shreenath Corporation | Facebook
Interest u/s 234B and 234C In October 2006 when Google acquired YouTube, interest should be paid under section 244A of the Income-tax Act. The interest on tax refund should be paid at the rate of 0.5% per month i.e. 6% per annum. ... View Video

PAYABLE BY THE ASSESSEE - J B NAGAR CPE STUDY CIRCLE OF WIRC ...
INTEREST UNDER INCOME TAX ACT, 1961 By Haridas Bhat INTEREST CHART PAYABLE BY THE ASSESEE Period From Till 234 A 234B 234C 158BFA 220 201 115P ... Return Doc

PENALTY - LATE FILING OF IT RETURN FY 2011-12 Impact Of Late ...
Loss of Interest on refund:You may loose interest on refund u/s 244A as delay in filing is attributable to assessee for the period by which you have filed late return. Due date of income tax return is related to TDS deposite and disallowance u/s 40a(ia). ... Fetch Doc

R.N.I. No. MEHENG/2005/14226 Registered : Maharashtra Postal ...
If in the income-tax administration there is one area which has remained perennially incurable, it is Income- (tax refund of Rs. 30,950 and interest u/s. 244A of Rs. 14,232). Framing question • It is a remarkable and most effective tool to get y our ... Read Full Source

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UNIVERSAL KNOWLEDGE HUB: CA CS ICWA KNOWLEDGE HUB - STUDENTS ...
Facebook Youtube Twitter; Shopping; Forum. Astrology; Travel; Ca Cs Icwa Student. Deductors can navigate to 'Statement / Payments' -> 'Request for Refund' Payment of Interest u/s 244A of Income Tax Act 1961 when assessee is not at fault. ICAI President meets President of India || ICAI ... View Video

IN THE HIGH COURT OF KARNATAKA AT BANGALORE ITA No.231 Of ...
Allowing interest under Section 244A on the refund of Rs.29,43,825/- for the refund had been allowed, interest u/s. 244A has to be paid by ignoring the proviso to it is immaterial that the relevant form prescribed under the Income Tax Rules, at the relevant time (i.e. before April 1, ... Doc Retrieval

INCOME TAX APPELLATE TRIBUNAL ORDER
Holds that the assessee is entitled to refund with interest u/s 244A - held, issue is no Income Tax - penalty u/s 271(1)(c) - Assessee is chairman of two corporate bodies - companies pay certain sums to the assessee for payment of premium towards keyman ... Read Content