How to get tcs refund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 May 2017
One of my clients pur car Rs. 11 lace dealer ded tcs on car how to claim in return. Pl advice
Expert : Anonymous
Expert :
Anonymous
(Expert)
30 May 2017
To claim refund, you have to file return
28 July 2024
To claim a refund of Tax Collected at Source (TCS) on the purchase of a car, you need to follow a process that involves filing your Income Tax Return (ITR) correctly. Here’s a step-by-step guide to help you through the process:
### **1. Understanding TCS**
- **TCS on Car Purchase:** According to Section 206C of the Income Tax Act, a seller of a motor vehicle collects TCS on the sale of a vehicle if the sale consideration exceeds Rs. 10 lakh. The rate of TCS is 1% for such transactions.
### **2. Check TCS Details**
- **Verify TCS Credit:** Before proceeding, ensure that the TCS collected and deposited by the dealer is correctly reflected in your Form 26AS. Form 26AS is a tax credit statement available on the Income Tax Department’s website that shows the details of TDS/TCS credits and other tax-related information.
### **3. File Income Tax Return (ITR)**
#### **a. Choose the Correct ITR Form**
- **ITR-2:** If you have income from multiple sources and are not a salaried individual, use ITR-2. This form is suitable for individuals who have income from capital gains, other sources, or have a foreign income.
#### **b. Include TCS in Your ITR**
1. **Log in to the Income Tax Portal:**
- Go to the [Income Tax India e-Filing Portal](https://www.incometax.gov.in/).
- Log in using your credentials.
2. **Select the ITR Form:**
- Choose the ITR form applicable to you (e.g., ITR-2).
3. **Fill in the Details:**
- **Income Details:** Provide details of your income and any other relevant information required in the form.
- **TCS Details:** Locate the section for “TCS” in the form. This is usually under the “Taxes Paid and Verification” section or similar.
4. **Enter TCS Information:**
- Enter the details of TCS collected on the purchase of the car as reflected in Form 26AS.
- Ensure that the TCS amount is correctly reflected in the appropriate field.
5. **Verify and Submit:**
- Review the entire return to ensure all details are correctly filled.
- Submit the return online and e-verify it using any of the available methods (e.g., Aadhaar OTP, EVC through net banking).
### **4. Check Refund Status**
- **After Filing:** Once you have filed your return and it is processed by the Income Tax Department, you can check the status of your refund on the [Income Tax e-Filing Portal](https://www.incometax.gov.in/).
- **Processing Time:** Refunds usually take some time to process. The time frame may vary depending on the complexity and volume of returns being processed.
### **5. Additional Points**
- **Keep Documentation:** Maintain all relevant documents, including the purchase invoice and TCS certificate from the dealer.
- **Follow Up:** If there is any discrepancy or delay in processing your refund, you can contact the Income Tax Department for clarification or assistance.
By following these steps, you should be able to claim the refund of TCS collected on the car purchase efficiently. If you need any further assistance, consulting a tax professional or chartered accountant can also be beneficial.
### **1. Understanding TCS**
- **TCS on Car Purchase:** According to Section 206C of the Income Tax Act, a seller of a motor vehicle collects TCS on the sale of a vehicle if the sale consideration exceeds Rs. 10 lakh. The rate of TCS is 1% for such transactions.
### **2. Check TCS Details**
- **Verify TCS Credit:** Before proceeding, ensure that the TCS collected and deposited by the dealer is correctly reflected in your Form 26AS. Form 26AS is a tax credit statement available on the Income Tax Department’s website that shows the details of TDS/TCS credits and other tax-related information.
### **3. File Income Tax Return (ITR)**
#### **a. Choose the Correct ITR Form**
- **ITR-2:** If you have income from multiple sources and are not a salaried individual, use ITR-2. This form is suitable for individuals who have income from capital gains, other sources, or have a foreign income.
#### **b. Include TCS in Your ITR**
1. **Log in to the Income Tax Portal:**
- Go to the [Income Tax India e-Filing Portal](https://www.incometax.gov.in/).
- Log in using your credentials.
2. **Select the ITR Form:**
- Choose the ITR form applicable to you (e.g., ITR-2).
3. **Fill in the Details:**
- **Income Details:** Provide details of your income and any other relevant information required in the form.
- **TCS Details:** Locate the section for “TCS” in the form. This is usually under the “Taxes Paid and Verification” section or similar.
4. **Enter TCS Information:**
- Enter the details of TCS collected on the purchase of the car as reflected in Form 26AS.
- Ensure that the TCS amount is correctly reflected in the appropriate field.
5. **Verify and Submit:**
- Review the entire return to ensure all details are correctly filled.
- Submit the return online and e-verify it using any of the available methods (e.g., Aadhaar OTP, EVC through net banking).
### **4. Check Refund Status**
- **After Filing:** Once you have filed your return and it is processed by the Income Tax Department, you can check the status of your refund on the [Income Tax e-Filing Portal](https://www.incometax.gov.in/).
- **Processing Time:** Refunds usually take some time to process. The time frame may vary depending on the complexity and volume of returns being processed.
### **5. Additional Points**
- **Keep Documentation:** Maintain all relevant documents, including the purchase invoice and TCS certificate from the dealer.
- **Follow Up:** If there is any discrepancy or delay in processing your refund, you can contact the Income Tax Department for clarification or assistance.
By following these steps, you should be able to claim the refund of TCS collected on the car purchase efficiently. If you need any further assistance, consulting a tax professional or chartered accountant can also be beneficial.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- Notice from IT DEPTT IF FD AMOUNT EXCEEDS 10 LACS
- GST payable under RCM
- Applicablity on tds
- Unable to generate and save json file for updated return
- GSTR9- ITC
- Tax audit & Switching from Presumptive taxation
- Audit of F and O T/O
- Which SAC code should be selected??
- Section 194I not showing in TDS RPU for Compnay Assessee for TDS on rent
- LTCG offset against property buy
- Import purchase entry
- Rule 54(1A) for Distributing ITC
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
Trending Online Classes
-
LIVE Course on GSTR-9 & GSTR-9C (Technical | Practical | Concept - Based)
Sachin Jain03 November 2025
CAclubindia
