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    bha_mahesh's Avatar
    bha_mahesh Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 30, 2011, 12:03 PM
    Interest on IT Return
    I had some IT refund pending from 2006-07. I got it last month, the interest that they have paid is only for the period till aug 2008. According to them, they assessed on that day.
    When they have prepared my cheque on 01.11.11, shouldn't they be paying interest for remaining period. I got the amount only when I threaten them of giving an appeal via RTI. Advice me what should I do?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Nov 30, 2011, 02:38 PM
    Interest on refunds SHOULD accrue starting on 16 April 2007 for the 2006 return and 16 April 2008 for the 2007 tax return.

    How much was your refund on the FILED tax returns, and how much did you eventually get?
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