Applicability of wct
This query is : Resolved
16 November 2014
We are society, We have done painting work on our Building for this we issued work order , we made payment after deducting TDS continuously, But our internal auditor raise queries to deduct WCT also.
1. Whether WCT applicable on painting work
2. What is the ceiling limit as per bihar vat act.
Pls resolve it.
1. Whether WCT applicable on painting work
2. What is the ceiling limit as per bihar vat act.
Pls resolve it.
16 November 2014
All govt and semi-govt bodies are to do tds of IT and WCT also.Painting is a works contract. The general rate of TDS on a WCT bill is 4%.If the contractor gives an undertaking that his income is below the taxable minimum(Rs2 lakhs in many states)in a financial year,then it can be ignored also.....mjk
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