Correction of 26QB tds return due to cancellation of property deal.

Others 2044 views 2 replies
sir; an assessee agrees to buy flat accordingly he deduct tds 1% & file 26QB return. Later on that deal cancelled & since that deal is cancelled the seller has neither included this sales in his ITR nor claimed tds. Now buyer trying to file refund request in form 26B but refund can be claimed only if that tds payment challan remains unutilised. since in this case since the challan already linked with 26QB he cannot place refund request. How to cancel that form 26QB return ?? There is an option to 26QB correction but amount credited nil is not accepting. How to claim this refund. please Advice 🙏 thanks.
Replies (2)

You need to revise the form 26QB with zero amount,

The revised form 26QB needs to be accepted by the seller.

Seller will also be required to create login at Traces portal for accepting the revised form 26QB

Once the utilization is zero, you can claim refund. 

 

Thank you Gupta Sir; but when I tried to enter zero in amount paid column then it shows message as amount credited cannot be nil.


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