TCS

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Quick Summary

If a seller has deducted Tax Collected at Source (TCS) from your purchase, but it's not appearing in your Form 26AS, you cannot claim it in your income tax return. You should contact the seller immediately to request a refund of the deducted amount or ask them to correct their TCS return filing. It's also advisable to obtain the relevant TCS certificate (like Form 16A) from the seller to support your claim once the issue is rectified.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)

19 November 2020 Respected Sir,

Ours is a private limited company and we have purchased a truck from some private limited company as upon which the truck seller has deducted 1% TCS and the TCS is not reflecting in 26-AS. Please advise me what to do in such case. Can I claim in my income tax return. Which form for claiming TCS I should obtain from the truck seller.

Please guide me and oblige.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

19 November 2020 To claim TCS deducted it should appear in 26AS. Contact seller to refund the money or update TCS return.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

30 January 2021 Ask for Form 16 from Seller. Also no credit of TCS available if same will not reflected in 26AS, so request to seller for correction if there is some error.

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