DHANYA.G (Practicing Chartered Accountant) (45 Points)
03 September 2018Dear Members,
Please help me out to resolve this query. An assessee who has agreed to buy a property paid an advance of 78,20,000, deducted TDS of Rs. 80,000 and remitted the same.However the transaction could not be completed due to some unexpected hindrances. Now, is there any provision to submit that the transaction has been cancelled and claim refund of TDS remitted?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(194214 Points)
Replied 03 September 2018
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 45/2017
New Delhi, the 5th June, 2017
G.S.R. 554(E).—In exercise of powers conferred by section 295 of the Income Tax Act, 1961 (43 of 1961) (hereinafter referred to as the ‘Act’), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962,
1. (1) These rules may be called the Income-tax (11th Amendment) Rules, 2017.
(2) They shall come into force on the date of their publication in the official Gazette.
2. In the Income Tax Rules, 1962 (hereinafter referred to as the principal rules), in rule 31A, in sub-rule (3A), after the words “under digital signature”, the words “or verified through an electronic process” shall be inserted.
3. In the principal rules, in Form No. 26B, at the end of the form, the following shall be inserted, namely:-
“Notes: In case of refund related to tax deducted under section 194-IA of the Act for which Form No. 26QB has been filed by the deductor,-
(a) Permanent Account Number may be furnished in place of Tax Deduction and Collection Account Number;
(b) in column II, in sub-column (5) relating to the ‘period’, may be left blank;
(c) in column II, in sub-column (7) relating to the ‘Receipt number of relevant statement’, furnish acknowledgement number of Form No. 26QB.”
[Notification no. 45/2017/ F. No. 370142/39/2016-TPL] PITAMBAR DAS, Director TPL
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