If you have bought a car worth more than ₹10 lakh, you would have paid a TCS of 1% to the dealer. This is not an additional tax but a tax credit that can be adjusted against your total income tax liability or claimed as a refund while filing the ITR.
Bought a car worth over ₹10 lakh? Here's how to claim your 1% TCS refund
livemint.com - 13 Jul 2026 16:43
If you have bought a car worth more than ₹10 lakh, you would have paid a TCS of 1% to the dealer. This is not an additional tax but a tax credit that can be adjusted against your total income tax liability or claimed as a refund while filing the ITR.
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