Kenya Revenue Authority (KRA) is an administration association responsible for the evaluation, bookkeeping, and assortment of all incomes that are expected. KRA tax refund is a repayment of overabundance tax paid in a given period. This emerges when the taxpayer transmits more than they ought to the administration. As a taxpayer, you can get a tax refund on your payment if the tax that you owe is not exactly the total of the necessary aggregate sum of the retention taxes in addition to the evaluated taxes that you pay, or the refundable tax credits that you can guarantee. Tax refunds are typically paid toward the finish of the separate year.
A person is eligible for an income tax refund if the amount paid to the government is more than the actual tax liability. This may happen when the advance tax, tax deducted from the person or self-assessment tax paid, is higher than the total due of the taxpayer. You may claim an income tax refund of the excess tax deducted or paid during the financial year while filing your tax return for that year. This assessment must be done by 31st July, of each year as per the Income Tax Act, where the fiscal year (FY), immediately succeeding a financial year, is the required assessment year (AY) for that fiscal year.