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of <h1>Centralised Processing of Income Tax Returns: Verification, Refunds, and Demand Notices Explained per Section 156 of the Act.</h1> The Centralised Processing of Returns Scheme, 2011 outlines the procedure for processing valid income tax returns. The Centre determines the sum payable or refund due by verifying Tax Collected at Source (TCS), Tax Deducted at Source (TDS), and tax payment claims against data from deductors, collectors, and banks. An electronic intimation is sent to the taxpayer specifying the amount payable or refundable, and any demand notice is considered as per section 156 of the Act. The Commissioner can establish procedures and prioritize processing based on administrative needs, and unprocessable returns are forwarded to the appropriate Assessing Officer.
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