Unified TDS and TCS statement processing enables error adjustments, demand or refund determination, timely intimation, and centralised administration.

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

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