Refunds

The prescribed authority shall, in the prescribed manner, refund to the owner, applying in this behalf, any amount of tax or penalty paid by such owner in excess of the amount due from him under this Act either by a refund voucher or, at the option of the owner, by deduction of such excess from the amount of tax or penalty due in respect of any other period : Provided that no refund under this section shall be allowed, unless the claim for refund is made within a period of three years from the date on which such claim accrues.