Section 244A(1)(b) in The Income Tax Act, 1961

[Cites 0, Cited by 94] [Section 244A(1)] [Section 244A] [Entire Act]

Union of India - Subsection

Section 244A(1)(b) in The Income Tax Act, 1961

(b)in any other case, such interest shall be calculated at the rate of ] [one-half per cent.] [ Substituted by Act 54 of 2003, Section 16, for " two-third per cent."</p>w.r.e.f. 8.9.2003).][for every month or part of a month comprised in the period or periods from the date or, as the case may be, dates of payment of the tax or penalty to the date on which the refund is granted. [Inserted by Act 4 of 1988, Section 98 (w.e.f. 1.4.1989).]

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Union of India - Subsection

Section 244A(1)(b) in The Income Tax Act, 1961