Query about tcs on purchase of vehicle
This query is : Resolved
Jitender Sharma
(Querist)
23 June 2016
I have purchased a vehicle for Rs-48 lac, then is there is TCS tax is applicable or not and if applicable then what its % and it is refundable/reimbursable or not ?
23 June 2016
Any purchase of vehicle above Rs. 10 lacs will be liable for TCS. You can claim the same through ITR if your tax liability is nil or below the TCS amount.
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