TDS and TCS statement processing now follows a unified framework for apparent errors, interest, fees, demands and refunds.

Section 399 creates a common processing mechanism for TDS and TCS statements, including correction statements. Processing allows adjustment of arithmetical errors and incorrect claims apparent from the statement, computation of tax, interest and applicable fee, and determination of demand or refund after crediting 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, and any resulting refund must be granted.

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