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Inland Revenue (Amendment) Act, No. 2 of 2025 – Key Changes
Uncategorizedby rrpartners0

Inland Revenue (Amendment) Act, No. 2 of 2025 – Key Changes

1. Refunds of Overpaid Taxes (Section 150) Refund Limits: Before April 1, 2025: Up to Rs. 60,000 per year or Rs. 15,000 per quarter. After April 1, 2025: Increased to Rs. 180,000 per year or Rs. 45,000 per quarter. Time Limits for Claiming Refunds: For assessment years before April 1, 2024: File refund claims within 4 years from the end of the assessment year if you file a tax...

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