HOW TO REFUND TDS ON PROPERT

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If a property purchase deal is cancelled after TDS has been deducted and deposited, and the challans show as 'consumed' on TRACES, you may still be able to claim a refund. If the seller revises their Income Tax Return (ITR) to remove the TDS entry, the challan might be reopened as 'unconsumed'. If the seller has not utilised the TDS or has reverted it in a revised return, you should gather all relevant documents and apply directly to your jurisdictional Income Tax Officer (ITO) for the refund.

AMIT KUMAR

AMIT KUMAR (Querist)
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19 July 2023 TDS deducted and deposited on Property purchase now deal cancel and while filing the refund at TRACE all challan show consumed. what to do in this case if seller revise his ITR and delete that TDS challan in that case is the challn can be open as unconsumed challan or any other way. kindly advise.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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19 July 2023 How purchaser paid TDS to government? Though TAN no. or under challan 26QB?

AMIT KUMAR

AMIT KUMAR (Querist)
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20 July 2023 Purchaser Deduct and deposit TDS through Form 26QB and seller consume the TDS however later deal is cancelled now how purchaser who deduct and deposit the TDS can claim refund. If seller rectify his return and delete the TDS entries claimed wrongly in that case is the the challan show unconsumed.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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20 July 2023 For which year ITR file by seller in which the TDS got consumed?

AMIT KUMAR

AMIT KUMAR (Querist)
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06 August 2023 PART PAYMENT IS GIVEN IN A.Y 2022-23 AND SELLER CARRY FORWARD THE TDS IN HIS RETURN AND PART PAYMENT IN A.Y 2023-24 DEED IS CANCELLED IN A.Y 2023-24 AND SELLER NOT TAKEN TDS IN HIS RETURN AND DELETE THE CARRY FORWARD TDS ALSO BUT WHEN BUYER CHECK CHALLAN STATUS ON TRACE BEFORE APPLYING REFUND BOTH YEAR CHALLAN SHOW CONSUMED. NOW HOW BUYER GET REFUND ON THIS CANCEL PURCHASE AGREEMENT.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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06 August 2023 If the seller has not utilized the challans, or reverted back the TDS in revised return, then take all the relevant documents from him, and apply directly to your jurisdictional ITO for its refund.

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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15 September 2024 Good luck.

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