{"id":450,"date":"2024-08-03T15:17:16","date_gmt":"2024-08-03T09:47:16","guid":{"rendered":"https:\/\/www.caclubindia.com\/guide\/?p=450"},"modified":"2025-06-26T15:57:05","modified_gmt":"2025-06-26T10:27:05","slug":"tcs-on-car-purchase","status":"publish","type":"post","link":"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/","title":{"rendered":"TCS On Car Purchase: Simple Breakdown of the Rules"},"content":{"rendered":"\n<p>TCS on car purchase is a provision under the Income Tax Act where dealer or sellers are requires to collect a percentage of the sale price as tax from buyers at the time of the sale.<\/p>\n\n\n\n<p>It helps in ensuring that tax is collected at the source of the transaction by making it easier for the tax authorities to track large transactions.<\/p>\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" title=\"tcs on car purchase\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/08\/tcs-on-car-purchase-1024x538.jpg\" alt=\"tcs on car purchase\" \/><\/figure>\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\r\n<div class=\"ez-toc-title-container\">\r\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\r\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\r\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/#Rule_of_TCS_on_the_car_purchase\" >Rule of TCS on the car purchase<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/#Time_limit_To_deposit_TCS\" >Time limit To deposit TCS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/#What_if_buyer_doesnt_have_PAN\" >What if buyer doesn\u2019t have PAN?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/#How_to_check_TCS_credit_in_income_tax_portal\" >How to check TCS credit in income tax portal?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/#Steps_to_check_26AS\" >Steps to check 26AS<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/#Is_TCS_Refund_on_Car_Purchase_Possible\" >Is TCS Refund on Car Purchase Possible?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/#Case_1\" >Case 1<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/#Case_2\" >Case 2<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/#What_is_the_higher_TCS_rate\" >What is the higher TCS rate?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/#When_the_Higher_TCS_Rate_is_charged\" >When the Higher TCS Rate is charged?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.caclubindia.com\/guide\/tcs-on-car-purchase\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\r\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rule_of_TCS_on_the_car_purchase\"><\/span>Rule of TCS on the car purchase<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When you bought a car which costs above 10 lakh rupees, you need to pay 1% Tax Collected at Source (TCS).<\/p>\n\n\n\n<p>TCS is deducted by the dealer and deposited to the government against your pan card number.<\/p>\n\n\n\n<p>After deducting the TCS, dealer or seller will issue the TCS certificate to the buyer.<\/p>\n\n\n\n<p>The certificate will include all basic details such as the seller&#8217;s TAN number and buyer\u2019s PAN number.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Time_limit_To_deposit_TCS\"><\/span>Time limit To deposit TCS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is mandatory for the dealer who deducts TCS to deposit with the government within 30 days of the sale.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_if_buyer_doesnt_have_PAN\"><\/span>What if buyer doesn\u2019t have PAN?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The <a href=\"https:\/\/www.caclubindia.com\/articles\/tax-collected-source-51444.asp\"><strong>TCS rate<\/strong><\/a> will be 10% if the buyer does not provide PAN to the seller.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_check_TCS_credit_in_income_tax_portal\"><\/span>How to check TCS credit in income tax portal?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You can checkout online on quarterly basis via 26AS.<\/p>\n\n\n\n<p> 26AS is a consolidated Annual Information Statement for a particular Financial Year (FY).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Steps_to_check_26AS\"><\/span>Steps to check 26AS<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Visit the official e-filing website and log in using your credentials.<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\"><\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Go to the &#8216;e-file&#8217; menu. Click on &#8216;Income Tax Returns&#8217; and select &#8216;View Form 26AS&#8217; from the drop-down menu.<\/li>\n<\/ul>\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" title=\"26AS\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/08\/26AS.png\" alt=\"26AS\" \/><\/figure>\n\n\n<ul class=\"wp-block-list\">\n<li>Click &#8216;Confirm&#8217; on the disclaimer to be redirected to the TRACES website.<\/li>\n<\/ul>\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" title=\"26AS\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/08\/26AS1.png\" alt=\"26AS\" \/><\/figure>\n\n\n<ul class=\"wp-block-list\">\n<li>On the TRACES (TDS-CPC) website, select the box on the screen. Click on &#8216;Proceed&#8217;. Click on the link at the bottom of the page: &#8216;View Tax Credit (Form 26AS)&#8217;.<\/li>\n<\/ul>\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" title=\"26AS\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/08\/26AS2.png\" alt=\"26AS\" \/><\/figure>\n\n\n<ul class=\"wp-block-list\">\n<li>Select the Assessment Year you want to view. Choose the format (HTML to view online, or PDF to download). Enter the &#8216;Verification Code&#8217;. Click on the &#8216;View\/Download&#8217; button.<\/li>\n<\/ul>\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" title=\"26AS\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/08\/26AS3.png\" alt=\"26AS\" \/><\/figure>\n\n\n<ul class=\"wp-block-list\">\n<li>After downloading, open the file to view your Form 26AS.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Is_TCS_Refund_on_Car_Purchase_Possible\"><\/span>Is TCS Refund on Car Purchase Possible?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Yes, buyer can claim the benefit of TCS refund while filling his ITR in two cases.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Case_1\"><\/span>Case 1<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If your total income is less than 5 Lakh rupees in a year after all deduction then you can get full refund.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Case_2\"><\/span>Case 2<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If your total income is more than 5 Lakh rupees in a year after all deduction then your TCS is adjusted over net tax liability.<\/p>\n\n\n\n<p>From the two cases we got to know that if your tax liability is less than TCS then you will get refund little bit or else its fully set off against tax liability.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_higher_TCS_rate\"><\/span>What is the higher TCS rate?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The higher TCS rate will be the highest of:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Two times the standard TCS rate mentioned in the Income Tax Act.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>5% TCS.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"When_the_Higher_TCS_Rate_is_charged\"><\/span>When the Higher TCS Rate is charged?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to Section 206CCA, a higher TCS rate is applicable when the buyer:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>has not filed ITR for the last two financial years before the relevant year when TCS is collected.<\/li>\n\n\n\n<li>time limit to file ITR has expired.<\/li>\n\n\n\n<li>total TCS and TDS was more than \u20b950,000 in each of these two financial years.<\/li>\n<\/ul>\n\n\n\n<p><strong><a href=\"https:\/\/www.caclubindia.com\/guide\/itr-refund-time\/\">Click here<\/a> to know how long will it take for ITR refund.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1722677312293\"><strong class=\"schema-faq-question\">Can I claim TCS refund on car purchase?<\/strong> <p class=\"schema-faq-answer\">Yes, you can claim a refund of TCS from the government if you are not liable to pay income tax.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1722677321045\"><strong class=\"schema-faq-question\">Is TCS applicable on sale of second hand cars?<\/strong> <p class=\"schema-faq-answer\">Yes, TCS is applicable on sale of second-hand car.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1722677333493\"><strong class=\"schema-faq-question\">What is the fee charged for late filing of TCS return?<\/strong> <p class=\"schema-faq-answer\">A fee of Rs 200 per day is charged for late filing.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1722677346901\"><strong class=\"schema-faq-question\">What will happen if I filed incorrect details of the TCS return?<\/strong> <p class=\"schema-faq-answer\">A penalty between Rs 10,000 and Rs 1,00,000 can be levied for incorrect filing.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>TCS on car purchase is a provision under the Income Tax Act where dealer or sellers are requires to collect [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":455,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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