Malaysia legislation
Section 50
Section 50
(2)
No claim for repayment under this section shall be valid unless it is made within five years after the end of the year of assessment to which the claim relates.
(3)
Nothing in this section shall operate—
(a)
to extend any time limit for appeal, validate any appeal which is otherwise invalid or authorize the revision of any assessment or other matter which has become final and conclusive; or
(b)
to compel the Government to refund the excess amount of tax paid (by deduction or otherwise) in respect of an assessment unless the assessment has been finally determined.
(4)
Any amount of excess in respect of tax payable for a year of assessment which is to be refunded to a person under subsection (1) may be utilized by the Director General for the payment of any other amount of tax which is due and payable (including any amount of instalments which are due and payable) by that person under this Act, or under the
Income Tax Act 1967 or the Real Property Gains Tax Act 1976.
(5)
Where amount of excess in respect of a person is ascertained in accordance with subsection 111(4A) of the Income Tax Act 1967 or subsection 24(7A) of the Real Property Gains Tax Act 1976 such
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excess shall be applied for the payment of tax which is due and payable
(including any amount of instalments which are due and payable) by that person under this Act.
Fund for Tax Refund