(Q1.) From which Financial Year deductor can raise 'Request for Refund' for Form 26QB, 26QC and 26QD? - Deductor can raise 'Request for Refund' for Form 26QB, 26QC and 26QD as mentioned below:
- Form 26QB request for refund can be submitted from F.Y 2013-14
- Form 26QC request for refund can be submitted from F.Y 2017-18.
- Form 26QD request for refund can be submitted from F.Y 2019-20.
(Q2.) What are the requirements to submit refund request for Form 26QB, 26QC and 26QD on TRACES website?
- DSC (Digital signature Certificate) or Aadhaar Authentication is required to submit Request for Refund.
Note: DSC (Digital signature Certificate) is mandatory to Request for Refund through NRI services i.e., www.nriservices.tdscpc.gov.in. If DSC is not registered at TRACES kindly register your DSC. (Q3.) What are the pre-requisites before raising Refund Request for Form 26QB, 26QC and 26QD?
- Pre-requisites before raising Refund Request are as follows :-
1. No outstanding demand should be present on Deductor's (Buyer/Tenant/Payer) PAN/TAN(s) associated with PAN (who are submitting refund request).
2. Please ensure that all statements wherein the challan(s) has/have been claimed must be processed before claiming refund.
3. Please ensure that all the details filled in 26QB,26QC and 26QD (statement cum challan) are true and correct as correction wouldn't be allowed after raising refund request.
4. Refund request can be submitted for OLTAS Challan (s) where available amount in challan is equal to or more than Rupees 1.00 /-.
5. Refund request cannot be placed if correction request for the same acknowledgement is under process or initiated.
6. Sum of maximum refund allowed amount should be greater than Rs. 100.00 in a refund request.
7. Refund request can consist of maximum 5 challans for the same Assessment Year at a time. For different Assessment Year, user needs to place a separate refund request.
8. While raising request for refund Assessment Year should be as per 26QB,26QC and 26QD (statement cum challan) filed.
9. Refund request will be issued in the Name of Buyer/ Tenant/ Payer as per the TRACES profile.
Note: If Taxpayer is giving request for refund through www.nriservices.tdscpc.gov.in then Refund request can be submitted only for 1 Challan for an Assessment Year at a time (for other challans in assessment year, separate request for refund is required). For different Assessment Year(s), user needs to place a separate request for refund. (Q4.) What is the procedure to raise 'Request for Refund' for Forms-26QB, 26QC and 26QD on TRACES website?
- Procedure to raise Request for Refund :-
1. Login as a Taxpayer on TRACES website.
2. Go to "Statements/Forms" tab and select "Request for Refund (For Forms 26QB/26QC/26QD)" option.
Note: For more details, please refer E-Tutorials available on TRACES Website under "Taxpayer" tab- E-Tutorial of PAN Refund for 26QB, 26QC & 26QD. (Q5.) What will be the procedure after submission of 26QB, 26QC and 26QD refund request on TRACES website?
- Buyer/ Tenant/ Payer needs to take print of Form 26B Acknowledgement and submit the duly signed document to their Jurisdictional Assessing officer within 14 days from the date of transmitting the data electronically. Failure to do so will lead to rejection of "Refund Request".
Also, Buyer/ Tenant/ Payer needs to carry the following verification documents for validation of bank details along with form 26B Acknowledgement:
1) Bank details verification documents e.g., Ban Pass Book, Cancelled Cheque etc.
2) Verification document for PAN of Taxpayer e.g. copy of PAN Card, copy of ITR etc.
3) Undertaking by PAN duly verified by PAN's Assessing Officer that there is no outstanding demand against the PAN. (Q6.) What is form 26B?
- Form 26B is an acknowledgement receipt of refund request.
(Q7.) If user lost the acknowledgement of form 26B, from where user can get the acknowledgement again?
- User need to click on Statements / Forms tab then click on Track Refund Request (For Forms 26QB, 26QC and 26QD) and search request by refund request number, then there is an option of View/Download Form 26B Acknowledgement to get the acknowledgement of the form 26B again.
(Q8.) What will be the course of action if TDS Refund is returned due to invalid bank details?
- Buyer/ Tenant/ Payer needs to update the bank details on same request. After updating the bank details, refund request will be processed again and refund amount will be credited to the correct bank account.
(Q9.) Can Buyer/ Tenant/ Payer cancel the Refund request once submitted for Form-26QB, 26QC and 26QD?
- Refund request can be cancelled only before Assessing Officer approval. If Assessing Officer has approved the request for refund, it cannot be cancelled.
(Q10.) How will user get refund amount?
- Refund amount will be credited to the bank account as per the details provided while submitting refund request by Deductor (Buyer/ Tenant/ Payer).
