hello, i want to cancel the TDS on sale of property (26QB) which i created in hurry. i have made login and tried the TRACES refund option. But the total amount of TDS is “Consumed” and Max refund amount is zero.
What is my option now? TDS was paid on 16th Oct ( 6 days back). Hoping for a solution on this.
Hi @nisshant
26QB is the challan cum return statement. As soon as you file the form, TDS amount paid by you gets utilized. There are few corrections that are allowed in form 26QB. You can refer to the article below. You cannot get the refund of the taxes paid through an online method. You can contact concerned Assessing Officer (AO) of the Income Tax Department (ITD).
You can also contact Aaykar Sampark Kendra (ASK) on Toll Free No. 1800-180-1961 to ask for help.
Hope this helps!
Hi,
I had raised a form26-QB correction request, but since the correction request also had some errors, I requested the AO officer to cancel the correction request.
Now as the old request has been closed, I would like to file a new correction request. Can I register DSC and file this new request for auto approval?
Hi @Jatin_Sahu
Yes, you can file 26QB correct request with registering a DSC and file te new request.
Here’s a read for your reference on TRACES: Form 26QB Correction DSC/ AO Approval - Learn by Quicko
Hi,
I have made a payment for Form 26QB, but there was some error. I don’t want to make a correction as it would take longer time and I had to get the registry done. Now, when I am submitting a request for refund I am getting the following error ‘Refund request cannot be placed for unclaimed challan(s)’.
Does someone know how to resolve this? I made the payment just 2 days ago, the challan is active but I am getting the abovementioned error. Is it possible that Form 26QB is not yet processed and that is why I am getting this error?
Yes, that’s true, refund of unclaimed challan is not possible. If there is any error noticed, you can file a correction request.
Here’s a read on Form 26QB: TDS on Purchase of Property - Learn by Quicko for your reference.
Hi,
I have purchased a property along with other two family member. So while filing my 26QB what should be the correct amount to be considered for below:
Total Value of Consideration
Total amount paid/credit
Agreement value = X
So, will my “Total value of Consideration” - X or X/3 ?
“Total amount paid/credit” - X or X/3 ?
NOTE - “TDS amount to be paid” is already paid as 1% of X/3
I have generated 16B it has “Total amount paid or credit” X/3
and “Total Tax deposit” is 1% of X/3
TIA
Can anybody help me with form 16B.
After downloading form 16B it is necessary of Signature of person responsible for deduction of tax?
And if yes digital signature or wet signature
Hi @amar3047
The value of consideration should be X
And the amount paid should be X/3.
For expert assistance, you can book a MEET
Hi @Anokhi_Shah
Here’s a read on form 16B for your reference. Form 16B : Certificate of TDS on Sale of Property - Learn by Quicko
Since Form 16B is downloaded and submitted online only, and a signature forms a part of filing form 16B, it is advisable to go for a digital signature.
Hi everyone,
I have a query regarding an incorrect form 26QB that I have submitted. I raised a request for correction and currently the status is showing as Pending for PAN Approval. The correction was done to update the Transaction Dates.
Can you suggest what is the next steps as this status is there since last 4 days. I am not sure if there is anything pending from my end.
Also till the correction is approved can I generate form 16b for that ?
Thanks,
Sutirtha
Hello @Sutirtha_Bagchi,
The status of TDS return - Pending for PAN approval suggests that you’ll have to ask the seller of the property to approve the corrections that you have made in the 26QB return.
Till the correction is under approval you can still download Form 16B.
Hope this helps!
141 posts were split to a new topic: How to file Form 26QB on sale of property?
I just generated 26qb correction request but how will the seller approve the correction request ?
Hi @Shubhamsharma,
For seller approval of PAN under correction request of 26QB, the seller will have to login to Income Tax Portal > Pending Actions tab. Select Worklist and the request will appear in For Your Action tab, and the seller can approve the request here.
Hope this helps.