Dear All,
This week, I purchase a property in Mumbai from 5 equal shareholders.
In September 2018, I had paid a token amount of Rs. 100,000/- to one of the shareholders. Yesterday, While paying 1% TDS for the token amount, I erroneously paid Rs, 1,00,000/- (excess of Rs. 99,000/-) instead of Rs. 1,000/-.
My query is:
- will I get a refund of Rs. 99,000/-? And if yes, can you please guide me on the procedure to claim the refund?
- If no, then what happens to my excess money of Rs. 99,000/-
Seeking your expert advise.
Best,
Shriram N