Amendment of section 244A

Q: When was Section 92 of the Finance Act enacted?

Section 92 of the Finance Act, cited as Finance Act 2016 92, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.

In force As on 06 Oct 2026

Ministry Finance Enacted 27 Jun 2016

Section 92 of the Finance Act, 2016 deals with amendment of section 244A. Amendment of section 244A. 92. In section 244A of the Income-tax Act, with effect from the 1st day of June, 2016,— (A) | in sub-section (1), for clause (a), the following clauses shall be substituted, namely:— "(a) | where the refund is out of any tax collected at source under section 206C or paid b The Act was enacted on 27 Jun 2016.

Amendment of section 244A.
92. In section 244A of the Income-tax Act, with effect from the 1st day of June, 2016,—
(A) in sub-section (1), for clause (a), the following clauses shall be substituted, namely:—
"(a) where the refund is out of any tax collected at source under section 206C or paid by way of advance tax or treated as paid under section 199, during the financial year immediately preceding the assessment year, such interest shall be calculated at the rate of one-half per cent for every month or part of a month comprised in the period,—
(i) from the 1st day of April of the assessment year to the date on which the refund is granted, if the return of income has been furnished on or before the due date specified under sub-section (1) of section 139; or
(ii) from the date of furnishing of return of income to the date on which the refund is granted, in a case not covered under sub-clause (i);
(aa) where the refund is out of any tax paid under section 140A, such interest shall be calculated at the rate of one-half per cent for every month or part of a month comprised in the period, from the date of furnishing of return of income or payment of tax, whichever is later, to the date on which the refund is granted:
Provided that no interest under clause (a) or clause (aa) shall be payable, if the amount of refund is less than ten per cent of the tax as determined under sub-section (1) of section 143 or on regular assessment;";
(B) after sub-section (1), the following sub-section shall be inserted, namely:—
"(1A) In a case where a refund arises as a result of giving effect to an order under section 250 or section 254 or section 260 or section 262 or section 263 or section 264, wholly or partly, otherwise than by making a fresh assessment or reassessment, the assessee shall be entitled to receive, in addition to the interest payable under sub-section (1), an additional interest on such amount of refund calculated at the rate of three per cent per annum, for the period beginning from the date following the date of expiry of the time allowed under sub-section (5) of section 153 to the date on which the refund is granted.";
(C) in sub-section (2), after the words "interest is payable", the words, brackets, figures and letter "under sub-section (1) or (1A)" shall be inserted.
Section 92, The Finance Act, 2016.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

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Questions about Section 92

What does Section 92 of the Finance Act deal with?

Section 92 of the Finance Act is headed "Amendment of section 244A". Amendment of section 244A. 92. In section 244A of the Income-tax Act, with effect from the 1st day of June, 2016,— (A) | in sub-section (1), for clause (a), the following clauses shall be substituted, namely:— "(a) | where the refund is out of any tax collected at source under section 206C or paid b

How do I find court cases under Section 92 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2016 92, section 92 Finance Act 2016, section 92 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 92 of the Finance Act, and has it changed?

Its own text turns on section 139 (Amendment of notifications issued under section 25 of Act 52 of 1962), section 143 (Amendment of section 11A), section 153 (Amendment of section 75), section 199 (Power to make rules), and on 1 further provision, so none of them can safely be read on its own.

When was Section 92 of the Finance Act enacted?

Section 92 of the Finance Act, cited as Finance Act 2016 92, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.

Other sections of this Act

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Eighth Schedule. Eighth Schedule19903 words
First Schedule. First Schedule8145 words
2. Income-tax3742 words
222. Insertion of new Chapter III F2100 words
70. Substitution of new section for section 1531931 words

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(i)		from the 1st day of April of the assessment year to the date on which the refund is granted, if the return of income has been furnished on or before the due date specified under sub-section (1) of section 139; or
(ii)		from the date of furnishing of return of income to the date on which the refund is granted, in a case not covered under sub-clause (i);

(aa)		where the refund is out of any tax paid under section 140A, such interest shall be calculated at the rate of one-half per cent for every month or part of a month comprised in the period, from the date of furnishing of return of income or payment of tax, whichever is later, to the date on which the refund is granted:
		Provided that no interest under clause (a) or clause (aa) shall be payable, if the amount of refund is less than ten per cent of the tax as determined under sub-section (1) of section 143 or on regular assessment;";

(B)		after sub-section (1), the following sub-section shall be inserted, namely:—
		"(1A) In a case where a refund arises as a result of giving effect to an order under section 250 or section 254 or section 260 or section 262 or section 263 or section 264, wholly or partly, otherwise than by making a fresh assessment or reassessment, the assessee shall be entitled to receive, in addition to the interest payable under sub-section (1), an additional interest on such amount of refund calculated at the rate of three per cent per annum, for the period beginning from the date following the date of expiry of the time allowed under sub-section (5) of section 153 to the date on which the refund is granted.";
(C)		in sub-section (2), after the words "interest is payable", the words, brackets, figures and letter "under sub-section (1) or (1A)" shall be inserted.