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of <h1>Income Tax Bill 2025 Clause 433 eliminates separate refund applications requiring returns filing under Section 263</h1> The Income Tax Bill 2025's Clause 433 replaces Section 239 of the Income Tax Act 1961, mandating that refund claims must be made by filing returns under Section 263. Both provisions require return-based refund claims, eliminating separate refund applications. The new clause ties limitation periods to return filing deadlines, continuing the simplified approach introduced in 2019 amendments. However, Clause 433 removes flexibility for delayed claims or condonation of delay, potentially creating hardship for taxpayers unable to file timely returns. While this streamlines administration and reduces frivolous claims, it may disadvantage genuine cases of late discovery of excess payments.
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