My seller’s 26AS statement is not showing up the TDS paid by the buyer during property purchase. The seller never filed ITR before. He wants to claim refund of the TDS paid by the buyer. TDS was paid using 26QB and through a challan for the default amount. Please suggest how the seller can claim refund? Thanks.
To claim the refund, the seller must first ensure the buyer’s Form 26QB accurately reflects the seller’s PAN (using a correction statement on TRACES if necessary), register on the income tax portal, file the appropriate ITR reporting the capital gains, and claim credit for the TDS paid so that the refund can be processed.