Govt Plans to Fix Refund Provision in New I-T Bill The government may amend Section 433 of the proposed Income Tax Bill, 2025, which currently allows refunds even on belated returns—conflicting with Section 263 that restricts refunds to timely filings. Officials clarified it was a drafting error and the final law will retain the existing rule. Recommendations from a parliamentary select committee are expected in the monsoon session. #incometaxindia #taxrefund #financebill2025 #cbdt #taxcompliance