Tax Refunds

1) In the case of death of a person, who is entitled to claim such tax refund due to him?

In case of death, incapacity, insolvency, liquidation or other cases, if a person is unable to claim or receive any tax refund due to him, his legal representative or trustee or guardian or receiver as the case may be, is entitled to claim or receive such refund for the benefit of such person or his estate.

2) Is interest to be paid on delayed refunds?

Yes. Where the assessee has made excess payment of advance tax, interest is payable on those refund amounts. Interest is paid at the rate of 2/3rd % for every month or part of a month. No interest is payable if the excess payment is less than 10% of tax determined. Where refund is of tax other than advance tax or tax deducted/collected at source, interest is payable from the date of payment of such tax or penalty upto the date on which the refund is granted.