Refund Interest

Tax Glossary Definition

Refund Interest

Refund interest is the interest payable by the tax authorities to a taxpayer when a tax refund is delayed beyond the statutory period. The interest is calculated at the prescribed rate under the Income Tax Act.

Example: If a tax refund of ₹5,000 is delayed by 1 year, interest of ₹300 may be payable to the taxpayer.

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