28 October 2023
Facility to claim excess TDS deposited by deductor was introduced in the Income Tax Act three years back and FORM no 26B was prescribed for this purpose almost two years back.
28 October 2023
1% TDS paid to seller for the consideration amount of plot, Property deal was cancelled & REGISTARTION WAS NOT DONE due to seller not given relevant documents to buyer just before day of registration...... After 3 days I received short deduction demand notice to pay 19% TDS due to seller PAN is inoperative. I requested 26QB refund request with reason property deal was cancelled. But it was rejected due to challan balance is not available as it was fully consumed as showing in traces portal. Now I was stuck to clear this short deduction demand notice. ACTUALLY PROPERTY TRANSACTION NOT HAPPENED. Please suggest if any ways to highlight this issue to CPC-TDS section to clear this short deduction demand notice and get back the TDS paid amount.
28 October 2023
File 26B and claim refund of 1% TDS paid. Reply to the demand property transaction not happened and claimed 1% TDS remitted. Drop the demand as transaction not happened.
28 October 2023
1. I requested 26B refund of 1% TDS paid, with reason Property deal cancelled , but it was rejected due to challan balance ZERO and not available as it was fully consumed. 2. Since property transaction not happened, can I reply through mail CPC-TDS with cancelled sale agreement as a proof and latest EC of the property in seller name itself, will be considered to close this default demand notice? or we need to go for Appeal to proof that transaction is not happened.? Please clarify. Since
29 October 2023
I requested 26B refund of 1% TDS paid, with reason Property deal cancelled , but it was rejected due to challan balance ZERO and not available as it was fully consumed.
Challan fully consumed means what? why challan amount is not reflecting in my refund request,its showing ZERO BALANCE. Please clarify
29 October 2023
Thanks for clarification sir. This is reason my refund request got rejected.
Then what on what way I can proof to TDS-CPC that property transaction was not happened to revert back the received default demand notice sir.....Any manual form can be submit to Assessing officer with all evidences of property cancellation or we have to go for appeal to proof to prove the property cancellation..... please advice sir...
30 October 2023
You can claim refund of TDS paid make a refund request as detailed below.
In case of refund of TDS for Form 26QB, the buyer/deductor has to log-in to TRACES portal as a ‘Taxpayer’. Step 1: Log in to TRACES – Enter User Id, Password, PAN and captcha Step 2: Navigate to Statements / Forms > Request for Refund. Step 3: Read the Refund Checklist and click on Proceed Step 4: Select one of the reasons and click on ‘Add Challan‘ Step 5: Mention the reason for raising the refund request in the space provided. Step 6: Enter the challan details. Click on ‘View Challan Details’ Step 7: Click the Challan Consumption Details Step 8: Tick the appropriate checkbox and click on ‘I Agree‘ On the landing page, One can Add Challan or Remove the Added Challan. Step 9: Click on 'Proceed' to continue. Step 10: Enter the Communication Address and Bank Address Step 11: Verify the details of Authorised Person. Click on 'Proceed' to continue. Step 12: On next page, Click on ‘Submit Refund Request‘ Step 13: Validate 26QB Refund Request with DSC. Click on 'Proceed' to continue. Success message will be displayed on the screen. One can Preview and Print Form 26B Acknowledgment.
30 October 2023
Hi sir, I submitted refund request as you mentioned above steps. Request number generated. After some time Request got rejected due to challan balance is not available. I checked challan status, in that amount is fully consumed. Due to this reason in my refund request challan amount is showing ZERO and it got rejected.
Is there any other way to do.... Form 26QB correction?
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