TDS-CPC (TRACES) has started accepting refund application for Excess TDS deposited in electronic mode on Form 26B digitally signed by the deductor . This is much awaited change. Deductors are demanding this change from a long Time . On TDS-CPC(TRACES) website a Message has been shown as under.
Refunds of challans has been enabled on TRACES. Deductors can navigate to 'Statement / Payments' -> 'Request for Refund' .
To file a ETDS statment we have to visit Tin-FC however to file refund application no need to go TIN-FC and you can file the same online through your TDSCPC login as deductor.To file this application ,first you (deductors) have to register your digitor singnature on TDSCPC website .
As per form 26B ,Deductor can claim refund for full challan amount as well as partial challan amount .
Procedure to register your digital singnature is provided in the PPT given below.
Earlier Income Tax rules regarding refund of excess deposit of TDS by deductor has been amended in notification 11/2013 dated 19.02.2013 . In this notification deductor can claim refund of excess TDS by filing the return electronically on New form 26B with digital signature only .New rule 31A(3A) has been inserted under rule 31A. Further Director general of Income Tax systems has been authorised to set the procedure to claim the refund.New form 26B is provided here under for download.
"(3A) A claim for refund, for sum paid to the credit of the Central Government under Chapter XVII-B, shall be furnished by the deductor in Form 26B electronically under digital signature in accordance with the procedures, formats and standards specified under sub-rule (5).";
"(5) The Director General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing and verification of the statements or claim for refund in Form 26B and shall be responsible for the day-to-day administration in relation to furnishing and verification of the statements or claim for refund in Form 26B in the manner so specified.".