My client purchased a car, whose purchase value is more than 10 lacs and tax is collected at source @ 1%. now which ITR to be used for AY 20-21 for filing purpose.
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Which ITR to use or Fy 201920, if there is a TCS on purchase of Vehicle morethan 10 lacs
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There is no specific form and tcs will be claimed in income tax return like tds
Also ITR will depends upon , what is source of Income . Salary or Business & profession .
The applicability of ITR forms or which form to be use varies depending on the sources of income of the taxpayer, the amount of the income earned and the category the taxpayer belongs to like individuals, HUF, company, etc..., it's not depend up on TDS or TCS credit.
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