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Which section of the Income Tax Act provides for the payment of interest on delayed refunds of tax?
  • a)
    Section 237
  • b)
    Section 239
  • c)
    Section 243
  • d)
    Section 244
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Which section of the Income Tax Act provides for the payment of intere...
Section 244 of the Income Tax Act provides for the payment of interest on delayed refunds of tax. If the Assessing Officer does not grant the refund within a specified period, the Central Government pays simple interest to the assessee on the refund amount.
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Which section of the Income Tax Act provides for the payment of interest on delayed refunds of tax?a)Section 237b)Section 239c)Section 243d)Section 244Correct answer is option 'D'. Can you explain this answer?
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