Sec.31 of mvat act 2002

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CA.Monik Dedhia (Querist)
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27 May 2012 DEAR EXPERT,

my employer has under go with contractor for works contract who is unregisterd dealer.
should i need to deduct TDS @ 4% Under vat act and also 2% under Income tax Act u/s 194C.

pl. clarify me.

Regrds,

Monik Dedhia.

hiravpatel

hiravpatel (Expert)
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28 May 2012 Hi,

you have to deduct 5 % as per new budget of Maharashtra state for WC given in the state and I Tax TDS deduction will also be there either 1 % or 2 % depends on contractee status.

CA.Monik Dedhia

CA.Monik Dedhia (Querist)
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28 May 2012 Thank You Sir,

can you tell me 5% will be on what value.
wheather on vat amount or gross amount.

Regards,

Monik Dedhia.

Prakash Kochar

Prakash Kochar (Expert)
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04 June 2012 Tax @5% as TDS is to be deducted out of amount payable against the work contract, excluding the amount, if any, separately charged as tax or service tax levied by the Govt. of India, by the contractor.

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