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of <h1>Processing of filed returns: adjustments, computation of tax, interest, refunds, hearings, evidence and assessment procedures</h1> Where a return is filed or furnished in response to a notice, the return is processed to compute total income or loss after specified adjustments (arithmetical errors, incorrect or inconsistent claims, disallowance of late-set-off losses or deductions, audit-indicated disallowances, and certain omitted incomes), then tax, interest and fees are computed, netted against taxes paid and reliefs, and an intimation sent specifying tax payable or refund; the assessee may be asked to produce evidence and the Assessing Officer may make an assessment after hearing and considering material; time limits and procedural safeguards, centralized processing schemes and exclusions for entities enjoying specified exemptions are provided.
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