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of <h1>Centralized processing of TDS statements corrects errors, computes interest and fees, notifies deductor and grants refunds within one year</h1> Where a deductor files a statement or correction of tax deducted at source, the statement is centrally processed to compute deductible sums after correcting arithmetical errors and obvious incorrect claims apparent from the statement, and interest is computed on the adjusted sums; fees are computed as prescribed; payable amounts or refunds are determined after adjusting prior payments and fees; an intimation of the payable amount or refund is sent to the deductor and refunds granted. No intimation is issued after one year from the end of the financial year in which the statement was filed. The Board may prescribe centralized processing schemes, including for non-deductors.
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