Rate of work contract tax
This query is : Resolved
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
Is there is any composition scheme?
ans as soon as possible
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.
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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