CHAPTER XVII
COLLECTION AND RECOVERY OF TAX
'206CB Processing of statements of tax collected at source.-
‘206CB. (1) Where a statement of tax collection at source or a correction statementhas been made by a person collecting any sum (herein referred to as collector) under section 206C, such statement shall be processed in the following manner, namely:—
(a) the sums collectible under this Chapter shall be computed after makingthe following adjustments, namely:—
(i) any arithmetical error in the statement;
(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 collectibleas computed in the statement;
(c) the fee, if any, shall be computed in accordance with the provisions ofsection 234E;
(d) the sum payable by, or the amount of refund due to, the collector, shallbe determined after adjustment of the amount computed under clause (b) andclause (c) against any amount paid under section 206C or section 234Eand anyamount paid otherwise by way of tax or interest or fee;
(e) an intimation shall be prepared or generated and sent to the collectorspecifying the sum determined to be payable by, or the amount of refund due to,him under clause (d); and
(f) the amount of refund due to the collector in pursuance of thedetermination under clause (d) shall be granted to the collector:
Provided that no intimation under this sub-section shall be sent after theexpiry of the period of one year from the end of the financial year in which thestatement is filed.
Explanation.—For the purposes of this sub-section, “an incorrect claimapparent from any information in the statement” shall mean a claim, on the basisof an entry, in the statement—
(i) of an item, which is inconsistent with another entry of the same orsome other item in such statement;
(ii) in respect of rate of collection of tax at source, where such rate isnot in accordance with the provisions of this Act.
(2) The Board may make a scheme for centralised processing of statements of taxcollected at source to expeditiously determine the tax payable by, or the refund due to,the collector, as required under sub-section (1).’.