Sweta Sinha (Company Secretary) (3 Points)
06 October 2023
hello,
Can anyone guide as how can i claim refund of TDS on sale of immovable property as the deal got cancelled. I tried filling correction of 26QB but its not happening. Doing this for first time, any gudance will be big help.
Regards
Amar Dhoot
(Director of Falcon Security Services)
(22 Points)
Replied 06 October 2023
Hello,
I understand your concern. You can claim a TDS refund after canceling a deal involving immovable property by following these steps:
Contact the buyer: Reach out to the buyer and request them to provide you with the TDS certificate (Form 16B) for the TDS deducted during the transaction.
File a revised return: You can file a revised income tax return by including the details of the canceled property deal. Ensure that you provide accurate information about the cancellation and the TDS deducted.
Claim a refund: In the revised return, you can claim a refund of the TDS amount that was deducted but is no longer applicable due to the cancellation.
Documentation: Keep all relevant documents, such as the cancellation agreement and communication with the buyer, handy as they may be required during the refund process.
If you're facing difficulties while filing the correction on the 26QB form, consider seeking assistance from a tax professional or contacting the income tax department helpline for specific guidance.
Please note that tax laws and procedures may change, so it's advisable to consult with a tax expert or the tax department for the most up-to-date information.
Hope this helps, and good luck with your refund process!
Sweta Sinha
(Company Secretary)
(3 Points)
Replied 06 October 2023
I am aware of the above procedure mentioned by yourself, but i am not aware of the techality of filling claim. If i am trying to fill ZERO in the total consideration paid place, its not getting accepted.
Eswar Reddy S
(CFO- at NHTF)
(58263 Points)
Replied 06 October 2023
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