my client has purchase new lorry at previous year and TCS deducted on such lorry cost.
now such TCS amount is fully refundable ? or not
Yes it is refundable just like TDS...... after adjustment of any tax liability, remaining amount is refunded back with interest.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
