Paid extra tds on property purchase, how to recover it?

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Hi,

As per IT rules, and a purchaser of a resale property, I needed to fill, submit form 26QB and pay 1% TDS on behalf of the seller.

I did that.

  • Filled form 26QB correctly (as it has lots of checks) - no doubt on that.
  • But when I proceeded for payment, via Net banking, I needed to enter amount again and I made a mistake. I entered a higher amount and paid a higher amount into the government account.

Now Form 26QB and 16B for the buyer/ seller have been generated and carries the correct (and lesser) amount, but only the challan (ITNS280) and my bank account shows me that I (as buyer) have paid a higher amount into the IT department account.

As buyer, I do not think, I can do a 26QB correction - as there is nothing to correct and that extra money is lying in some suspense account of the IT depoartment. 

What can be done in this situation?

thanks

J

Replies (1)

Dear Member,

Please contanct at financemitra.co.in for tax consultancy.


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