As per Section 194-IA, if someone received an Advance of Rs.5Lcs after 1st June 2013 for a property deal of Rs.70 Lacs. And deducted TDS and also paid to the credit of Central Government.
My Question:-
1.) Is it compulsory to deduct TDS when Advance money is paid as a Token money?
2.) What if the property deal subsequently cancelled?
3.) How to get refund of such TDS paid?