When making high-value purchases, like buying a car or booking an international trip, you might notice an extra charge on your bill labeled as Tax Collected at Source (TCS). This is collected by the seller and deposited with the Income Tax Department under your PAN, ensuring that those making high-end purchases report their taxes correctly.
While TCS might feel like an extra tax burden, it’s not part of your tax liability. You can claim a refund for this when filing your ITR.
Steps to claim Tax Collected at Source
There are three ways to add the TCS:
- Import from ITD using Autofill
- Navigate to File > Tax Credits
- Select Import from ITD using Autofill
- Connect to ITD using Aadhaar OTP or credentials
Once connected, your TCS and other tax credit details will be imported.
- Navigate to File > Tax Credits
Upload Form 26AS
- Go to File > Tax Credits
- Click on Upload Form 26AS
- Attach your Form 26AS (downloaded from your Income Tax account)
- Review the fetched details and proceed
- Go to File > Tax Credits
- Add Manually
- Go to File > Tax Credits
- Click Add manually and select the type of tax credit as TCS
- Fill in the required details such as TAN, name, amount, etc.
- Go to File > Tax Credits
If you still have any further queries, you can raise a ticket to get in touch with us.
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