Section 426(1)(b) in The Income Tax Act, 2025

[Cites 0, Cited by 0] [Section 426(1)] [Section 426] [Entire Act]

Union of India - Subsection

Section 426(1)(b) in The Income Tax Act, 2025

(b)the amount refunded under section 270(1) exceeds the amount refundable on regular assessment, the assessee shall be liable to pay simple interest at the rate of 0.5% on the whole or the excess amount so refunded, for every month or part of a month comprised in the period from the date of grant of refund to the date of such regular assessment.

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Union of India - Subsection

Section 426(1)(b) in The Income Tax Act, 2025