Unified TDS and TCS statement processing permits apparent-error adjustments, interest and fee computation, and demand or refund intimation.

Section 399 creates a common processing framework for TDS and TCS statements, including correction statements. It permits adjustment of arithmetical errors and incorrect claims apparent from the statement, computation of tax, interest and fee, and determination of the amount payable or refundable after credit for amounts already paid. An intimation of demand or refund is issued, and refunds due are granted. Intimation must be issued within one year from the end of the tax year in which the statement is filed. Centralised processing may be prescribed for uniform and automated administration.

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