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Old 3rd August 2017, 19:05   #91
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Default Re: 1% TCS on vehicles above Rs. 10 lakh from June 1, 2016

Quote:
Originally Posted by SMSP View Post
Dear Team BHP,
I purchased the New Honda City ZX in March2017 and had paid the TCS on the ex-showroom price. The TCS is reflecting now in my Form26AS. Please advise what action is needed while filing my IT returns for the Assessment year 2017-18, with reference to this TCS?

Regards,
SMSP
Include this amount of form 26 AS in your ITR as tax paid. There is also a section in ITR where you need to quote the PAN / TAN of the tax deductor. If the total tax paid due to this TCS exceeds your tax liability, it will be refunded.
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