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of <h1>Guidelines for Belated Refund Claims Under Income-tax Act: Approval Required for Refunds Over Rs. 1,000. Effective August 1988.</h1> The circular outlines guidelines for admitting belated refund claims under the Income-tax Act. Effective from August 1, 1988, Assessing Officers can admit such claims even if they result from excess Advance tax payments. For refunds less than Rs. 1,000, prior approval from the Commissioner of Income-tax is required. For refunds between Rs. 1,000 and Rs. 10,000, approval from the Chief Commissioner or Director General is necessary. These officials will oversee the cases to ensure compliance with the conditions set by the Board's order under section 119(2)(b). The instructions should be communicated to relevant officers, with a Hindi version to follow.
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