Thanks a lot everyone for your response. I'm not very familiar with Arduino programming and am learning the ropes still.
MartinL, I tried your code, but I got the same waveform clipped at 1V. I compared your code with mine and it seems like you've commented everything from the void loop section and have copied the uncommented commands to the void setup section. However, the tcDisable and tCReset commands from the void loop aren't copied to the void setup. any particular reason for that? I tried copying them to the void setup section and uploading the code but ended up getting a DC signal of 1V.
I'm looking for a sinusoidal signal going from 0 to 3.3V with a frequency of 1 kHz.