206CB. Processing of statements of tax collected at source.
(1)Where a statement of tax
collection at source or a correction statement has been made by a person co llecting any sum (herein
referred to as collector) under section 206C, such statement shall be processed in the following manner,
namely: -
(a)the sums collectible under this Chapter shall be computed after making the following
adjustments, namely: -
(ii)an incorrect claim, apparent from any information in the statement;
(b)the interest, if any, shall be computed on the basis of the sums collectible as computed in the
statement;
(c)the fee, if any, shall be com puted in accordance with the provisions of section 234E;
(d)the sum payable by, or the amount of refund due to, the collector, shall be determined after
adjustment of the amount computed under clause ( b) and clause ( c) against any amount paid
under sectio n 206C or section 234E and any amount paid otherwise by way of tax or interest or fee;
(e)an intimation shall be prepared or generated and sent to the collector specifying the sum
determined to be payable by, or the amount of refund due to, him under clau se (d); and
(f)the amount of refund due to the collector in pursuance of the determination under clause ( d)
shall be granted to the collector:
Provided that no intimation under this sub -section shall be sent after the expiry of the period of
one year from the end of the financial year in which the statement is filed.
Explanation. -For the purposes of this sub -section, “an incorrect claim apparent from any
information in the statement” shall mean a claim, on the basis of an entry, in the statement -
(i)of an item,which is inconsistent with another entry of the same or some other item in such
statement;