New Delhi, Nov. 1 -- Dhanteras and Diwali are considered auspicious occasions to bring home new appliances and vehicles. This is also when several brands roll out festive offers and discounts to encourage people to make big-ticket purchases.

If you are planning to buy a vehicle anytime soon, it is important to know that you could be eligible for a tax benefit of at least Rs.10,000, which you can claim while filing your income tax return (ITR) next year.

When a vehicle's value exceeds the prescribed limit, the dealer collects 1% TCS (tax collected at source) at the time of sale. This is not additional charge but tax paid in advance, which you can claim as a credit.

In other words, it is your own money only, collected as tax in advance a...