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of <h1>Clause 270 of Income Tax Bill 2025: Procedures for Processing Returns, Error Checks, and Adjustments Explained</h1> Clause 270 of the Income Tax Bill, 2025 outlines the procedure for processing tax returns. It specifies that returns filed under certain sections will be assessed for arithmetical errors, incorrect claims, and disallowance of losses or deductions if filed late. The tax, interest, and fees are computed based on adjusted income, and any payable sums or refunds are determined after considering tax deductions, collections, and payments. Intimations are sent to taxpayers about adjustments, and assessments must be completed within specified timeframes. The clause also details the process for issuing notices and conducting assessments, including special provisions for certain entities and non-profit organizations.
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