Query regarding TDS refund request against property cancellation

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This query is : Resolved

Quick Summary

If you've had a property deal cancelled, you may be able to claim a refund for the Tax Deducted at Source (TDS) that was taken. The TDS amount should appear on your Form 26AS. You can claim this refund by filing your Income Tax Return (ITR). Ensure the TDS is reflected correctly when you file, and you can typically do this within the same financial year.

Pravarsh

Pravarsh (Querist)
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26 July 2024 Hi,
Need help to understand how can I claim my TDS refund against the property for which the deal got canceled. The TDS was deducted in August 2023 and I am trying to claim it now. Is it possible? What are the steps please suggest.

CA ALOK KUMAR

CA ALOK KUMAR (Expert)
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30 July 2024 You may file ITR and claim TDS deducted. Make sure that TDS amount is showing your 26AS statement. If there is any forfeiture of advance money, it shall be taxable.

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Pravarsh

Pravarsh (Querist)
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31 July 2024 Hi Alok,

thank you for the response but need to know one thing that in form 26 AS it is visible but when I am filing the ITR at that time only my salary related TDS is reflecting where I can add this property related TDS deduction amount while filing ITR and also do we need to do this in the same financial year or can we do later as well?

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