CHAPTER XX — REFUNDS INCOME-TAX ACT, 2025 INCOME-TAX ACT, 1961 s. 431 — Entitlement s. 237 s. 433 — Form / Limitation s. 239 s. 434 — Appellate refund s. 240 s. 435 — Withholding (FA 2017) s. 241A s. 436 — Interest (0.5%/month) s. 244A s. 437 — Set-off against demand s. 245 Practitioner notes…

CHAPTER XX — REFUNDS

Chapter XX — At a Glance

INCOME-TAX ACT, 2025	INCOME-TAX ACT, 1961
s. 431 — Entitlement	s. 237
s. 433 — Form / Limitation	s. 239
s. 434 — Appellate refund	s. 240
s. 435 — Withholding (FA 2017)	s. 241A
s. 436 — Interest (0.5%/month)	s. 244A
s. 437 — Set-off against demand	s. 245

Practitioner notes

Verify bank account on income-tax portal — PAN-Aadhaar-linked + pre-validated.
Section 436 interest: include in refund expectation; auto-computed by CPC.
Section 437 adjustment: respond within 30-day intimation window; furnish evidence of stay or disputed status.
Refund withholding under s. 435: rare; obtain reasons in writing; challenge via writ if unreasonable.

← All ITA 2025 commentary Act 2025 hub

ITA 2025 — Chapter XX commentary (Vol XX)

CHAPTER XX — REFUNDS

Chapter XX — At a Glance

Practitioner notes