92[Processing
of statements of tax deducted at source.
200A. (1) Where a statement of tax deduction at source has
been made by a person deducting any sum (hereafter referred to in this section
as deductor) under section 200, such statement
shall be processed in the following manner, namely:—
(a) the sums deductible under this Chapter shall
be computed after making the following adjustments, namely:—
(i) any arithmetical error in the statement; or
(ii) an incorrect claim, apparent from any
information in the statement;
(b) the interest, if any, shall be computed on
the basis of the sums deductible as computed in the statement;
(c) the sum payable by, or the amount of refund
due to, the deductor shall be determined after adjustment of amount computed
under clause (b) against any amount paid under section
200 and section 201, and any amount paid
otherwise by way of tax or interest;
(d) an intimation shall be prepared or generated
and sent to the deductor specifying the sum determined to be payable by, or the
amount of refund due to, him under clause (c); and
(e) the amount of refund due to the deductor in
pursuance of the determination under clause (c) shall be granted to the
deductor :
Provided that no
intimation under this sub-section shall be sent after the expiry of one year
from the end of the financial year in which the statement is filed.
Explanation.—For
the purposes of this sub-section, “an incorrect claim apparent from any
information in the statement” shall mean a claim, on the basis of an entry, in
the statement—
(i) of an item, which is inconsistent with
another entry of the same or some other item in such statement;
(ii) in respect of rate of deduction of tax at
source, where such rate is not in accordance with the provisions of this Act.
(2) For the purposes
of processing of statements under sub-section (1), the Board may make a scheme
for centralised processing of statements of tax deducted at source to
expeditiously determine the tax payable by, or the refund due to, the deductor
as required under the said sub-section.]