TCS on sale of vehicles above Rs. 10 lakhs reduced to 0.75% till Mar'21

vnabhi · 2nd July 2021, 11:50

How long does it take for the TCS to show up on Form 26AS? I still don't see mine, though I bought my Ecosport in March 2021. I checked with the dealer, and he said they have uploaded all docs a week ago.

robincsamuel · 18th September 2021, 21:05

Quote:

Originally Posted by vnabhi

How long does it take for the TCS to show up on Form 26AS? I still don't see mine, though I bought my Ecosport in March 2021.

I had the same doubt. I bought the car in April 2021 and was waiting for TCS to show up on 26AS.

I contacted the dealership last week and now I see the entry on the TRACES website. I'm not sure if they missed it just for me or they are doing it only when someone asks them. I think one should verify and follow up at the earliest.

vnabhi · 18th September 2021, 22:28

Quote:

Originally Posted by robincsamuel

I had the same doubt. I bought the car in April 2021 and was waiting for TCS to show up on 26AS.

I contacted the dealership last week and now I see the entry on the TRACES website. I'm not sure if they missed it just for me or they are doing it only when someone asks them. I think one should verify and follow up at the earliest.

As long as you see the entry on 26AS, you are good. Mine showed up on 26AS in early August, and I have had my CA file my return.

robincsamuel · 19th September 2021, 10:59

Quote:

Originally Posted by vnabhi

As long as you see the entry on 26AS, you are good.

Right. The concern was about the entry not showing up on 26AS (dealership didn’t deposit the TCS).

I waited for five months and it didn’t show up. Thus contacted the dealership and they deposited the TCS in a week.

DigitalOne · 21st September 2021, 14:01

Quote:

Originally Posted by robincsamuel

I'm not sure if they missed it just for me or they are doing it only when someone asks them. I think one should verify and follow up at the earliest.

Looks like a scam by the dealer. Till the time the buyer or the government follows up, they have the TCS amount to play around with.

ghodlur · 27th January 2022, 12:00

The query is regarding the TCS paid to the dealer during the new car purchase. The amount is being seen in the 26AS form. How and under which section is generally this needs to be reflected when filing IT returns, can some one help? I know its a long way for IT filing but would like to keep the information ready.

2nd July 2021, 11:50	#16
vnabhi Senior - BHPian Join Date: May 2007 Location: DC -> DC Posts: 5,958 Thanked: 2,393 Times View My Garage	Re: TCS on sale of vehicles above Rs. 10 lakhs reduced to 0.75% till Mar'21 How long does it take for the TCS to show up on Form 26AS? I still don't see mine, though I bought my Ecosport in March 2021. I checked with the dealer, and he said they have uploaded all docs a week ago.
	() Thanks

27th January 2022, 12:00	#21
ghodlur Senior - BHPian Join Date: Sep 2009 Location: Thane Posts: 6,011 Thanked: 4,206 Times View My Garage	Re: TCS on sale of vehicles above Rs. 10 lakhs reduced to 0.75% till Mar'21 The query is regarding the TCS paid to the dealer during the new car purchase. The amount is being seen in the 26AS form. How and under which section is generally this needs to be reflected when filing IT returns, can some one help? I know its a long way for IT filing but would like to keep the information ready.
	() Thanks