Income-tax Act,1961

Act No : 43

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Section : Set off of refunds against tax remaining payable 2.

245. Set off of refunds against tax remaining payable2 Where under any of the provisions of this Act, a refund is found to be due to any person, the 3[Assessing] Officer, 4[Deputy Commissioner (Appeals)], 5[Commissioner (Appeals)] or 6[Chief Commissioner or Commissioner], as the case may be, may, in lieu of payment of the refund, set off the amount to be refunded or any part of that amount, against the sum, if any, remaining payable under this Act by the person to whom the refund is due, after giving an intimation in writing to such person of the action proposed to be taken under this section. ---------------------------------------------------------------------- 1 Inserted by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. 3 Substituted for "Income-tax" by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. 4 Substituted for "Appellate Assistant Commissioner", ibid. 5 Inserted by the Finance (No. 2) Act, 1977, w.e.f. 10-7-1978. 6 Substituted for "Commissioner" by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. --------------------------------------------------------------------- 1.695

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