(1) Every claim for refund under this Chapter shall be made in the prescribed form and verified in the prescribed manner.
1 (2) No such claim shall be allowed, unless it is made within the period specified hereunder, namely:-
(a) where the claim is in respect of income which is assessable for any assessment year commencing on or before the 1st day of April, 1967, four years from the last day of such assessment year;
(b) where the claim is in respect of income which is assessable for the assessment year commencing on the first day of April, 1968, three years from the last day of the assessment year;
(c) where the claim is in respect of income which is assessable for any other assessment year, 2 one year from the last day of such assessment year;
3 (d) where the claim is in respect of fringe benefits which are assessable
for any assessment year commencing on or after the first day of April, 2006, one
year from the last day of such assessment year.
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1. Subs. by Act 19 of 1968, s. 18, for sub-section (2) (w.e.f. 1-4-1968).
2. Subs. by Act 18 of 1992, s. 82, for "two years" (w.e.f. 1-4-1993).
3. Ins. by Act 18 of 2005, s. 55 (w.e.f. 1-4-2006).
Section 236 Relief to company in respect of dividend paid out of past taxed profits
Section 236a Relief to certain charitable institutions or funds in respect of certain dividends
Section 238 Person entitled to claim refund in certain special cases
Section 239 Form of claim for refund and limitation
Section 240 Refund on appeal, etc
Section 241A Withholding of refund in certain cases
Section 242 Correctness of assessment not to be questioned
Section 243 Interest on delayed refunds
Section 244 Interest on refund where no claim is needed
Section 244A Interest on refunds
Section 245 Set off of refunds against tax remaining payable