Rate of work contract tax

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kamini (Querist)
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05 December 2009 what is the rate of work contract tax in case of work contract?
Is there is any composition scheme?

ans as soon as possible

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 December 2009 1) Under Income tax act,1961: -
Tax is to be deducted u/s 194C @ 1% for individuals/HUF and @ 2% for others.

2)Under service tax act:-
a) 10.3% at normal rate.
b) 4.12% at compounded rate.

3) VAT Act:-
In the State of Kerala
a) 12.5% at normal rate.
b) 3.03% at compounded rate.

N.B:- VAT rates of your state may verified.

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