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of <h1>Centralized processing corrects returns, computes tax, proposes adjustments with 30-day response, nine-month intimations, three-month summons</h1> Returns filed under specified sections are centrally processed to compute total income or loss after correcting arithmetical errors, apparent incorrect claims, inter-year inconsistencies, disallowed losses or deductions for late-filed returns, and audit-specified adjustments. Tax, interest and fees are computed, credits applied, an intimation sent and refunds granted. Proposed adjustments must be communicated and the assessee given 30 days to respond; intimations must be issued within nine months of the financial year end. The tax authority may summon evidence within three months to verify understatement or excessive loss and then assess after hearing. Special procedural safeguards apply before altering assessments of certain research, institutional or registered non-profit entities, including government approval for withdrawal of approvals.
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