BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A refund is money you
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owe the government
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overpaid in taxes
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underpaid in taxes
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None of the above
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Explanation:
Detailed explanation-1: -When does the refund arise? As per section 237, if any person satisfies the Assessing Officer that the amount of tax paid by him or on his behalf or treated as paid by him or on his behalf for any year exceeds the amount of tax payable by him, he shall be entitled to a refund of the excess tax paid by him.
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