How can I claim TDS refund for Pabbly purchase?

This policy provides a structured approach for customers to deposit Tax Deducted at Source (TDS) to the government, over and above the software purchase price from Magnet Brains Software Technology Pvt Ltd. (Dba Pabbly.com, hereafter referred to as Magnet Brains). It also explains the procedure to claim a refund of the deposited TDS amount from Magnet Brains. The process includes submission of Form 16A, verification of TDS deposited, and the refund process.


Applicability

This policy is applicable to all customers of Magnet Brains who -

• Purchase software in INR currency.
• Deposit TDS to the government over and above the software purchase price.
• Wish to claim a refund for the TDS deposited.

If you purchase any Pabbly Connect Plan priced at ₹58,172/- (exclusive of GST), then you must deposit TDS at 10% (₹5,817.20/-) under Section 194J of the Income Tax Act, 1961.

As per this policy, you are required to -

• Pay ₹58,172/- (plus GST) to Magnet Brains.
• Deposit ₹5,817.20/- as TDS to the government.
• Once the below procedure is complete, you can then claim the TDS refund from Magnet Brains.

Procedure to Receive Refund

1. TDS Deposit

To comply with this policy, the following steps must be followed when depositing TDS -

• Inform Magnet Brains about the intention to deposit TDS and share relevant details such as the amount and nature of payment.
• Deposit the TDS amount in accordance with prevailing tax laws.

2. Submission of Form 16A

To claim a refund, submit Form 16A as proof of TDS deduction at [email protected] -

• Form 16A must be submitted after the end of the quarter in which TDS was deposited.
• To ensure timely refund processing, Form 16A must be provided no later than June 15th for the previous financial year.
• Refund requests made without Form 16A or after the cutoff date will not be entertained.

3. Verification of TDS Deduction

Magnet Brains will verify the submitted TDS details before processing any refund -

• Verification will be conducted to ensure accuracy of the Form 16A details.
• Additional documentation or clarification may be requested to validate the deduction.

4. Refund Process

Upon successful verification of the TDS deduction -

• The verified TDS amount will be calculated, and the refund process will begin.
• The refund will be credited to the customer’s designated bank account within 7 working days from the date of verification.
• A confirmation of the refund will be provided to the customer.