(Q1.) Which type of refund is available on TRACES website (ITR Refund or TDS Refund)?
- TDS refund is available on TRACES website.
(Q2.) From which Financial Year onwards can Deductor claim for refund?
- Request for Refund can be raised from Financial Year 2007-08 onwards. Note: As per CIRCULAR NO. 2/2011 [F.NO. 385/25/2010IT(B)], DATED 2742011TDS Refund will be given to those challans which are deposited 01-04-2010 onward other than section 195 (non-resident) and in case of section 195 TDS refund functionality is available from Financial Year 2007-08 onward as earlier
(Q3.) What is the requirement to claim for refund? - Here are the requirements to claim for refund:
- It is mandatory to register digital signature on TRACES to submit the refund request.
- Refund can be claim only if there is no outstanding demand against the TAN, associated TAN's with PAN of deductor and PAN of the Deductor.
- PAN of Deductor should be same as per TAN Master and TRACES profile and should be non-blank.
- A refund request can contain maximum of five challan. For claiming more challan, submit new request.
- Maximum refund amount will be the minimum challan balance amount in the challan history.
- Available amount per challan must be greater than Rs.100/-
- Ensure that all statement in which the challan has been claimed have been processed before claiming refund for the challan.
- Refund cheque will be issued in the Name and Address of the Deductor as per TRACES profile.
(Q4.) Under which tab do we have the option of TDS refund?
- Under 'Statement/Payment' from main menu, from given drop down select 'Request for Refund'.
(Q5.) What is the minimum amount that can be claimed as refund and what is the maximum limit?
- Available amount per challan must be greater than Rs.100/- and there is no maximum limit.
(Q6.)Is there any challan limit to claim for refund at a time?
- A refund request can contain maximum of five challan at a time. For claiming more challan, submit new request.
(Q7.)There is a challan in the statement which was unconsumed will I be able to claim the refund for the entire amount?
- Refund can be claimed as per 'maximum available balance' i.e. Challan amount minus maximum amount consumed in any statement for the particular Challan.
Scenarios 1 Challan Amount =1000: Amount consumed / claimed amount = 500, OLTAS Available Balance = 500, Refund amount will be: 500
Scenarios 2: In case Deductor modified deductee rows of Rs 100 with zero amount: In such case,
Challan amount 1000:
Challan consumed / claimed amount = 400,
OLTAS Available Balance = 600,
Refund amount will be: 500 (Rs 1000 Minus Rs 500)
Scenarios 3: In case Deductor Add deductee rows of Rs 100: In such case,
Challan amount 1000:
Challan consumed / claimed amount = 600,
OLTAS Available Balance = 400,
Refund amount will be: 400 (Rs 1000 Minus Rs 600)
Scenarios 4: In case Deductor again modified deductee rows of Rs 100 with zero amount: In such case,
Challan amount 1000:
Challan consumed / claimed amount = 400,
OLTAS Available Balance = 600,
Refund amount will be: 400 (Rs 1000 Minus Rs 600 (Amount consumed as per Scenario 3)) (Q8.)Who can claim for the refund, authorized person or the Deductor?
- Refund can be claimed by an authorized person whose digital signature certificate has registered on TRACES.
(Q9.)If I want to change the companies? address for refund claiming, can I update the address on TRACES?
- Yes, before raising the request for refund, user should change the address in the profile. After the change, submit the refund request.
(Q10.)What is form 26B?
- Form 26B is an acknowledgement receipt of Refund Request on TRACES.
(Q11.) I have lost the acknowledgement of form 26B, from where I can get it again?
- Once you submit the request for refund and get the request number for tracking the refund request. While tracking the same, there is an option of View/Download Form 26B Acknowledgement to get the acknowledgement of the form 26B again.
(Q12.)Can I file a correction for particular challan, if my refund request is under process for the same challan?
- Yes, you can file challan correction however your refund request will be rejected.
(Q13.)After giving the request for refund, will Deductor get some acknowledgement email?
- Yes, Deductor gets the request number through e-mail to track the refund request.
(Q14.)Where can Deductor track the status for refund?
- Under 'Statement/Payment' from main menu, from given drop down select 'Track Refund Request'
(Q15.) How can I track the status of refund? - Request can be tracked by any of the following search criteria:
- Enter either Refund Request Number or Refund Request Date or both
- Enter BSR Code, Date of Deposit and Challan Serial Number of the challan for which refund request has been submitted
(Q16.) What are the reasons of refund request getting rejected? - Following are common reason for rejection of refund request:
- Demand Outstanding against TAN or for TAN's associated with the PAN of deductor or PAN of the Deductor.
- There is any challan correction for which refund request raised.
- If Form 26B is submitted after the expiry of 14 days.
- Request will be rejected by Assessing Officer
- Request will be rejected by Additional Commissioner.
- Request will be rejected due to invalid bank details or invalid address details.
- Request will be rejected due to reduction in challan available balance.
- Request will be rejected due to challan force matching by Assessing Officer in progress.
- CLARIFICATION ABOUT STATUS OF REQUEST OF REFUND AFTER SUBMITTING 26B (ACKNOWLEDGMENT OF REQUEST) TO A.O.
- PENDING WITH AO: Once the request is submitted and validated request will be displayed with status
- PENDING WITH TDS: Status will be pending with TDS CPC if request is approved by AO.
- PENDING WITH REFUND BANKING: Status will be pending with Refund Banker if request is with Bank.
(Q17.) Can deductor give Refund Request for amount more than Rs 100,000/-?
- Yes, if refund amount is more than Rs 100,000/- the AO as well as additional AO's approval is required.
(Q18.) How will I get my refund amount?
- Refund amount will be transferred to the bank account.
Note: Please use pre-validated Bank Account Details as mentioned in Income Tax Return filed at E-filing to avoid rejection of refund request. If you want to provide different Bank Account Details, kindly validate the same with e-filing website before placing the request for refund. (Q19.) What if deductor has mentioned incorrect Bank details while submitting the Refund request?
- Deductor should provide correct bank account details as these details will be verified by the AO and one time correction in bank details and communication details is allowed .
(Q20.) If deductor has shown money in interest and fee column by mistake, can he claim the refund?
- If Deductor has shown money in interest and fee column by mistake, he cannot claim the refund unless correction is filed and amount is removed from this column.
(Q21.) Can deductor cancel the Refund request once submitted?
- Refund request can be cancelled only before AO approval, if AO has approved the request it cannot be cancelled.
(Q22.) Can government deductor claim for refund as they have no PAN?
- Pan of the Deductor should be available and should be same as TAN master, so government deductor will not be able to give the request
(Q23.) TDS Refund cheque returned due to invalid address. What will be the course of action now on part of Deductor and TRACES?
- Deductor needs to update the address on same request. After updating the address, new 26B will be generated and Deductor has to submit this updated 26B to the jurisdictional A.O. The A.O. will again approve this 26B request from deductor.
