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of <h1>Processing of 206C statements: correcting errors, computing interest and 234E fees, determining payable or refundable amounts</h1> Where a collector files a statement or correction of tax collected at source under section 206C, the statement is processed to compute sums collectible after correcting arithmetical errors and addressing incorrect claims apparent from the statement; interest is computed on the revised sums, fees under section 234E are applied, and amounts payable or refundable are determined after adjusting prior payments. An intimation specifying the payable sum or refund is issued (not later than one year from the end of the financial year of filing), refunds are granted accordingly, and the Board may establish a centralized processing scheme.
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