TCS 5% ON CAR PURCHASE

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Business
114 Points Posted on 29 October 2023

Mr A havent filed ITR till date. He wants to purchase car worth 11lakhs. Dealer will deduct 5% TCS. Can he claim back while filing ITR?

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On 29 October 2023 at 11:23 Report
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Quick Summary
If you're purchasing a car and the dealer deducts 5% Tax Collected at Source (TCS), you can indeed claim this amount back when you file your Income Tax Return (ITR). The TCS deduction is not disallowed in this scenario, meaning you are eligible to reclaim it through your tax filing.

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"Do the Right Thing...!!!"
128157 Points Posted on 29 October 2023
Yes, He can claim with filing of ITR.
1 Reply
On 29 October 2023 at 11:35
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Profession Business
28246 Points Posted on 29 October 2023
Tcs is not allowed in the above cases.
1 Reply
On 29 October 2023 at 11:41
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Practising CA
8954 Points Posted on 06 November 2023
Yes he can claim by filing ITR
Reply
On 06 November 2023 at 02:21

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