Refundability of excess tax payments under Income Declaration Scheme now subject to government notification and specified conditions.

Amendments empower the Central Government, by notification in the Official Gazette, to specify classes of persons and new payment dates for tax, surcharge and penalty unpaid by the original due date, permitting payment with interest at one per cent per month or part-month from the day after the original due date until payment; and to specify classes of persons to whom any amount paid in excess under the Scheme shall be refundable, with the amendment operating retrospectively from 1st June, 2016.

---

---

---