TDS Refund on cancellation of sale deed

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This query is : Resolved

Quick Summary

If you're trying to get a TDS refund after a property sale deed was cancelled, but the system shows Rs.0 refund and the full amount as consumed, it means the seller has already received the TDS amount. To proceed, you'll need to revise your TDS return and cancel the payment made to the seller. This will allow you to reclaim the TDS amount.

raziya SHAIKH

raziya SHAIKH (Querist)

09 August 2023 we tried to apply for refund because property deal was cancelled. But when we entered all challan details, refund amount allowed shows Rs.0. Consumed amount shows the full amount we paid. how to proceed with refund in such cases?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

09 August 2023 Consumed amount shows what you paid, i.e. consumed fully by seller of the property.
As the deal is cancelled, the seller will refund you the TDS amount which he/she has utilized/consumed.

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raziya SHAIKH

raziya SHAIKH (Querist)

10 August 2023 ''Refund request can be submitted for OLTAS challan (s) where available amount in challan is equal to or greater than ₹1. ''
This error has been showing when Add challan and click on veiw challan details.

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

10 August 2023 It means the challan has been consumed and the amount has been credited to the sellers PAN.
Now revise the corresponding TDS return and cancel he payment made to seller.

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raziya SHAIKH

raziya SHAIKH (Querist)

10 August 2023 Thank you so much. for your quick response and resolved my query.

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

10 August 2023 You are welcome...

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