Refundable Deposits means any deposits of cash received by any Company provided that such deposits are not booked as accounts receivable or as revenue by any Company and are subject to refund to the depositor.
Can I refund a deposit?
A deposit is part of the total cost of something or an advance payment paid for at the time of booking. Businesses will sometimes insist it’s non-refundable if you cancel and even write it into the contract. But a business can only do this if the contract term is fair.
How is a refund request sent to deductor?
Refund will be sent to deductor by cheque if refund amount is more than 50,000 else it will be transferred to the bank account which deductor mentions at the time of submitting the refund request. Step 10 – Verification details will be displayed of the user along with the Proceed button for final submission.
Is there a refund of pre deposit made?
It is imperative that the appeal orders should indicate the refund of pre deposit made as a consequential relief while allowing the appeals. 7. Considered views of learned experts are solicited in the matter for appropriate remedial action as deemed fit by CBIC as lakhs of refund claims will be affected by such lapses.
How to request refund of excess TDs deposited by deductor?
Deductor can request a refund for excess TDS deposited by him via TRACES for the financial year 2007-08 onwards. An online utility is available for the Forms type 24Q, 26Q, 26QB, 26QC, 27EQ & 27Q. No outstanding against your TAN and against any TAN (s) associated with the PAN of Deductor (if applicable)
Can a challan be claimed in a refund request?
You cannot claim the credit of challans (used in refund request) in any statements or otherwise except the remaining available balance All statements in which the challan has been claimed have been processed before claiming the refund for the challan. Step 2 – Select the option of Request for Refund under Statements/Payments
