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I filed my ITR on July 31st and received a refund with interest for only one month. Is this correct?

T S Khurana

T S Khurana   |186 Answers  |Ask -

Tax Expert - Answered on Sep 17, 2024

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more
Aditya Question by Aditya on Aug 13, 2024Hindi
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Filed My ITR on 31 July and received refund with 0.5c/o of 1 Month instead of 5 Months from 01 April 2024. The TDS amount is 85940 and Tax Liablity is NIL. The Refund received is 86370/- Rs. Should I raise the Query or the Refund Interest of 430 of only One Month is right from ITD.

Ans: You are entitled to interest on TDS deducted from April till the date of refund, provided you file your ITR within time limit.
However, as the amount of interest is small, you may avoid unnecessary correspondence & ignore the same.
Most welcome for any further clarifications. Thanks.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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I have filed my ITR-1 for AY 21-22 in time. Demand was raised on 14 Jan for Rs 1,690 on processing of my ITR. a) I have paid the amount on 27 May, 2022 through net banking against challan no 10574. BSR code 0510308. I have erroneously paid Rs 1,690 in serial 300 (self-assessment) instead of SL 400. The amount remains to be shown outstanding in mine account and acceptance of return remains pending. I have tried to correct the SL 400 through my PAN account but I have not been successful in changing serial. In rectification icon this amount of Rs 1690 is not shown because only payments prior to submission of ITR are only shown. However, this Rs 1,690 is shown in it is shown in 26As. So I have not been able to change to SL 400 instead of SL 300. b) I requested for reprocess of ITR so that this amount may get reflected and ITR will be accepted. After reprocessing request amount has been reduced to Rs 1,230. But ITR has not been accepted. It is showing with additional interest of Rs 108 as on today. c) Additionally Rs.1690 + Rs 112 has been deducted from refund of next year return on 14 September 22. This is also reflected in 26AS d) Therefore I have paid Rs1690 through net banking challan plus Rs 1,690 through deduction from refund plus Rs 112 as interest. Total payment made 1,690+1,690+112 = Rs 3,492. Whereas I am required to pay only Rs 1,230. e) ITR still outstanding and not accepted till date and amount of Rs 1,230 is reflected unpaid. Sir my query is: a) Am I required to pay amount Rs 1,230 + interest? After the re- processing, despite having paid Rs 1,690 against initial demand by net banking plus there has been deduction from refunds. i.e. twice if I ask for re-processing? b) Now that amount has been paid. What action I need to take to complete the processing of ITR.
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Check e-filing portal “outstanding demand” tab. If rectification rights are with CPC, you can request CPC Customer Care to transfer ITR to assessing officer.

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