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Take your CC rewards on advance tax payments as Interest 😉My ITR 2 processed today. The refund was about ~1L and got it without any interest. Seems this entire excess is from excess advance tax and they don't pay interest for it.
No. All the CCs are done by 2024 . This excess I paid due to a wrong calculation from my side and with upi I guess. Anyways I am happy that the money got refunded.Take your CC rewards on advance tax payments as Interest 😉
What's the Payment Note says, any mention of Int Amount !!My ITR 2 processed today. The refund was about ~1L and got it without any interest. Seems this entire excess is from excess advance tax and they don't pay interest for it.
Delay attributable to Taxpayer (in months) = 0What's the Payment Note says, any mention of Int Amount !!
Oh this is not good. I paid 3% excess tax and did not receive interest. Don't understand why Govt. made it 10% at least difference for interest eligibility.Here is how interest amount on refund currently being calculated.
Amount would be: 0.5% pm (of refund amount) x Number of months including the month of refund.
Months counting will start from April.
For example if refund is paid on Oct 19, 2025 for a refund of 85k the interest amount would be 85k*(0.5*7)% or 85k*0.035 = 2975/-
Ref: https://cleartax.in/s/interest-on-income-tax-refund
Same for me too. Excess tax doesn't earn interest. If they have deducted excess , only then they pay interest.Oh this is not good. I paid 3% excess tax and did not receive interest. Don't understand why Govt. made it 10% at least difference for interest eligibility.
It does only when refund amount is 10% more of liability and advance tax also gets interest because some of itrs processed till now had advance tax and interest did came.Same for me too. Excess tax doesn't earn interest. If they have deducted excess , only then they pay interest.
Not necessary. Excess advance tax or self assessment tax also earn interest as far as my knowledge.Same for me too. Excess tax doesn't earn interest. If they have deducted excess , only then they pay interest.
It's 15th March 2025Not necessary. Excess advance tax or self assessment tax also earn interest as far as my knowledge.
When did u paid that extra (mis-calculated) amount?
I am still waiting for mine to be processed, never delayed this much everBaki sab k process horhe hai kya? Mine is still stuck...
+1 I am in the same boat.I am still waiting for mine to be processed, never delayed this much ever
Dukh k sathi 😀 when you submitted the return and which ITR?+1 I am in the same boat.
Submitted and e-verified on Aug 24. I have claimed 30k+ in refund this time. Hence the delay, I guess.Dukh k sathi 😀 when you submitted the return and which ITR?
This year, there is a reason for delay. Availability of forms delayed too much. Last date extended. Online filing of ITR 5/6/7 became available after due date.I am still waiting for mine to be processed, never delayed this much ever