https://www.taxtmi.com/acts?id=8466 Amendment establishes a structured return processing mechanism under section 143 requiring correction of arithmetical errors and elimination of incorrect claims apparent from the return, computation of tax and interest on the adjusted total income, and determination of payable tax or refundable amount after accounting for deductions, payments and reliefs. An intimation stating the sum payable or refundable must be sent and refunds granted accordingly; an acknowledgment may serve as intimation where no adjustments arise. The Board may create a centralised processing scheme and the Government may notify modifications to processing provisions to implement that scheme, subject to a time limitation and parliamentary laying. en-us Fri, 29 Feb 2008 20:26:02 +0530 Sat, 03 May 2008 10:15:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=8466 Amendment establishes a structured return processing mechanism under section 143 requiring correction of arithmetical errors and elimination of incorrect claims apparent from the return, computation of tax and interest on the adjusted total income, and determination of payable tax or refundable amount after accounting for deductions, payments and reliefs. An intimation stating the sum payable or refundable must be sent and refunds granted accordingly; an acknowledgment may serve as intimation where no adjustments arise. The Board may create a centralised processing scheme and the Government may notify modifications to processing provisions to implement that scheme, subject to a time limitation and parliamentary laying. Act-Rules Bills Fri, 29 Feb 2008 20:26:02 +0530 https://www.taxtmi.com/acts?id=8466