File Request for Refund of Excess TDS Deposited by Deductor: If an excess of tax, more than the actual amount, is deposited, a Deductor can make a request for a refund of the excess TDS that he has deposited through TRACES. (From 2007 to 2008). In addition, an online utility is accessible for various Form types of 24Q, 26Q, 27EQ, 26QB, 27Q and 27Q.
- The List for Filing a Raising Refund Request through TRCES for Form Type 26B.
- A Stepwise Guide to File a Request for Refund.
The List for Filing a Raising Refund Request through TRACES for Form Type 26B
- A Digital Signature on TRACES should be registered for an authorised person.
- Against the TAN or PAN of the Deductor, there should be no remaining outstanding balance.
- As per TAN Master, the PAN of the Deductor and their TRACES profile should be the same.
- Refunds can only be requested for the OLTAS challans where the amount unclaimed is larger than Rs.100.00 for each challan.
- The maximum refund amount allowed will be considered the minimum challan amount in the challan receipt’s history.
- You will not be able to claim the credit of any challan that is used in the refund requests of any statement except the available residual balance.
- Before the appeal process for a refund of the challan, all statements in which it has been claimed are processed.
- Against TAN and any TAN(s) associated with the PAN of the Deductor, no outstanding balance should remain.
A Stepwise Guide to File a Request for Refund
Step 1: Logging into Traces.
Step 2: Selecting the option “Request for Refund” under the Statements or Payments category.
Step 3: Clicking the “Proceed” button on the refund checklist.
Step 4: Selecting the type of challan that is meant for a refund.
- The refund request for challan or challan(s) u/s of section 195
- The refund request for challan or challan (s) u/s other than section195.
- A separate request is needed for the challan u/s 195
Step 5: Selecting at least a single reason from the five given options in the section below to raise a refund request.
Step 6: Clicking on the option “View Challan Details” after entering the details of the challan against which the refund is requested.
Step 7: After reviewing all details of the challan and its consumption details (if any). Confirm all checkboxes and click “I Agree” to proceed with your request.
Step 8: The Challan will be added to the request list, and the Deductor can add a maximum of 5 challans per request. After that, click on “Proceed”, and all of the challans are added.
Step 9: Reviewing the name and the communication address of the Deductor (which should be the same as the TRACES profile). The Deductor should provide the following bank details:
- The Bank Name
- Number of the Bank Account
- The IFSC Code
- Account type
Note: – If the refund amount is more than 50,000, it will be transferred to the bank account mentioned by the Deductor at the time of submission of the refund request.
Step 10: The verification details will be displayed. Then, click on the “Proceed” button for final submission or on the “Back” button to cancel or make any changes.
Step 11: After reviewing the summary displayed on the screen, click on the “Submit Request Refund” option. Then, in case of any edits, click on “Edit” for the specified segment.
Step 12: Signing the application via digital signature is the next important step.
Step 13: Printing the acknowledgement that is generated for Form 26B.
Step 14: Delivering printed acknowledgement to your Jurisdictional Assessing Officer within 14 days, starting from the date of transmission of the data electronically, is the last step and failing this step will lead to the rejection of your refund request.