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of <h1>Income Tax Circular Allows Late Refund Claims Up to Rs. 10,000 for Excess Advance Tax Payments u/s 119(2)(b.</h1> The circular issued under section 119(2)(b) of the Income-tax Act, 1961, authorizes Assessing Officers to accept late refund claims for amounts up to Rs. 10,000 due to excess advance tax payments. Conditions for acceptance include that the refund must not exceed Rs. 10,000, the returned income should not be a loss for carry forward purposes, the refund should not be supplementary, and the income should not be assessable in another person's hands. This order, effective from August 1, 1988, aims to alleviate taxpayer difficulties. A Hindi version will be provided subsequently.
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