Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

206 CL TDS on purchase of a Vehicle

2645 views

Save Share

Aiyappa Poovappa

5 Points Posted on 04 April 2023

Hi Team,

There was a TDS deduction on the purchase of vehicle. As an individual who pays income tax, can I claim this as refund during the efiling of my returns?

Please advise.

Thanks,

Manju

Replies (2)

Quick Summary

If TDS (Tax Deducted at Source) was deducted when you purchased a vehicle, you can indeed claim this back when filing your income tax return. The TCS (Tax Collected at Source) will be reflected in your Form 26AS, allowing it to be adjusted against your total tax liability. This means you'll only need to pay the remaining balance of your tax.

Adv. Tauseef Farooque

Tax consultant

64 Points Posted on 05 April 2023

Yes,

Assesse could be claim filing of Income Tax return.the 26AS would reflect the TCS /Tds collected from the assessee and thus it will be ajusted from his total tax liability and he'll just need to pay the balance amount.