Refund of TDS deposited on Property

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This query is : Resolved

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A query was raised regarding the possibility of the TDS depositor claiming a refund for TDS on property that was deposited late and consequently not claimed by the buyer in their ITR. The consensus is that the depositor cannot claim the refund directly. Instead, the buyer should file a rectification under tax credit mismatch to claim the credit.

VIPIN GUPTA

VIPIN GUPTA (Querist)
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27 March 2021 Dear Sir,

We have deposited TDS on property but the same was deposited late and the party was unable to claim it in his ITR. The case pertains to A/y 2018-19. Can we as depositor of TDS claim it as refund. of it as we have received mail from company that they were not able to claim the amount as refund in there ITR.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 March 2021 You can't claim it as refund. They can file rectification under tax credit mismatch and claim it.

VIPIN GUPTA

VIPIN GUPTA (Expert)
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27 March 2021 Is there any instruction/ circular from department how to claim this mismatch

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 March 2021 See the link.

https://www.incometaxindia.gov.in/Pages/tax-services/request-for-rectification.aspx#:~:text=Select%20any%20one%20of%20the,Type'%20from%20drop%20down%20list.&text=Tax%20credit%20mismatch%20correction%20only,check%20boxes%20will%20be%20displayed.&text=You%20may%20select%20the%20check,for%20each%20of%20the%20selections.

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