Take This Quiz & Predict Your Score in the coming CA CS or CMA Exam!
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?



An Assessee is eligible to claim refund of the excess tax paid by him. Tax could be paid in the form of advance tax or tax deducted/collected at source or self – assessment tax or payment of tax on regular assessment.

To claim refund, an assessee need to E – file Return of Income submitting the proof of payment of taxes like Advance Tax, TDS/TCS etc. An Assessee can also claim tax refund even if return is filed after the due date.

We earn simple interest on refund only if refund amount is at least 10% of the actual tax liability before tax deducted at source (TDS) as determined under section 143(1) or tax determined under regular assessment.The rate of simple interest is 0.5% per month or 6% per annum.

If Refund is arising due to Advance Tax, TDS/TCS: – Interest shall be allowed for a period commencing from the 1st day of April of the assessment year to the date on which the refund is granted.

If Refund is arising due to other reason: – Interest shall be allowed for a period from the date of payment of tax to the date of grant of refund.

The interest earned on tax refunds is chargeable to tax under the head “income from other sources”.

Paying extra tax and getting it back by way of refund is not a good choice because the interest earned is merely 6% pre-tax , however if the same money have been invested in other instruments, such as fixed deposits,  it could have  fetch 9-10% pre-tax . Further, claiming very high amount of tax refund may also increase the chances of getting Income return selected for scrutiny assessment.


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