Refund of TDS for failed sale of property
This query is : Resolved
11 September 2024
I have made a TDS payment before going with the purchase of property.
But the sale was called off later and am trying to get the refund for the TDS.
But while trying to fetch challan details from TRACES site, am getting below error.
"Refund request can be submitted for OLTAS challan (s) where available amount in challan is equal to or greater than ₹1. "
This means that the amount is already credited to seller PAN.
In this case, how to get my refund?
But the sale was called off later and am trying to get the refund for the TDS.
But while trying to fetch challan details from TRACES site, am getting below error.
"Refund request can be submitted for OLTAS challan (s) where available amount in challan is equal to or greater than ₹1. "
This means that the amount is already credited to seller PAN.
In this case, how to get my refund?
11 September 2024
Refer: https://taxguru.in/income-tax/e-tutorial-request-26qb-refund.html
11 September 2024
Thanks for your response, but above link doesnt have solution to my problem.
11 September 2024
While paying TDS amount to ITD, had you submitted form 26QB?
If yes, when you cancelled the deal the same challan needs to be cancelled.
The link provided above is for its cancellation.
If yes, when you cancelled the deal the same challan needs to be cancelled.
The link provided above is for its cancellation.
11 September 2024
Yes, i have submitted form 26QB. when i check the status of the challan, it says fully consumed. The TDS payment was done one month back.
11 September 2024
It may be consumed, but the form filer (property purchaser) can cancel the form itself. Follow the steps as per the link provided.
In step 4 select the option DEAL CANCELLED.
The confirmation of seller would be required.
For more details refer: https://www.youtube.com/watch?v=JZYbu0g9j_w
In step 4 select the option DEAL CANCELLED.
The confirmation of seller would be required.
For more details refer: https://www.youtube.com/watch?v=JZYbu0g9j_w
11 September 2024
I have selected this option
- I have cancelled my property/rented property deal/Contract(s) and Professional Service(s)
Even after this, same error. It is showing up in my form 26AS as well.
Looks like current application not accepting if the challan is already consumed.
- I have cancelled my property/rented property deal/Contract(s) and Professional Service(s)
Even after this, same error. It is showing up in my form 26AS as well.
Looks like current application not accepting if the challan is already consumed.
11 September 2024
Check with seller if he has already received refund of it.
If no, then in that case file Grievance along with screenshot.
If no, then in that case file Grievance along with screenshot.
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11 September 2024
Thanks for your help :)
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12 September 2024
You are welcome.
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