Refund not received even after 3 months of filing ITR, know how much interest will the government pay now?

If you have filed ITR for financial year 2024–25 within the deadline of 16th September. So the government will pay interest on the refund from April 1. This interest will continue until the refund amount reaches your bank account.

Meaning if the department has delayed the process. So the interest becomes your right. But if you have filed ITR after the deadline. So the rules change a bit. In such cases, interest will not be charged from 1st April. Rather, on the day you have filed the return. Will be counted from that date.

This means that those filing returns late may have to suffer some loss in interest. There is a provision for interest on refund under Section 244A of the Income Tax Act. If the government does not give refund on time. So he has to pay interest to the taxpayer.

The rate of interest is fixed at 0.5 percent per month or part of the month. Which applies to the entire amount of refund. This interest is also calculated on amounts like TDS, advance tax or self-assessment tax. However, if the delay is due to your fault. Like filling wrong details or documents remaining incomplete. So no interest is received.

But if there is delay from the department. So getting interest is certain. If your refund has not come yet. So first of all go to the Income Tax e-filing portal and check the status. If necessary, contact the Central Processing Center or your Assessing Officer.

Keep all payment receipts and important documents safely so that they can remain as evidence in any dispute in future. If you have filed ITR on time and correctly. So under Section 244A, you are sure to get interest on the delay of the government.