Taxation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2014
what is WCT (Works contract tax)?
one of my friend is a electrical contractor in HPCL.Company gives his payment through NEFT it deducts TDS & WCT also so I just want to know that -
1) what is WCT and
2) can it be refundable? and
3) how to treat it in accounts ?
pls give me detailed information about it.
one of my friend is a electrical contractor in HPCL.Company gives his payment through NEFT it deducts TDS & WCT also so I just want to know that -
1) what is WCT and
2) can it be refundable? and
3) how to treat it in accounts ?
pls give me detailed information about it.
31 July 2014
WCT is applicable on contracts involving sale of both goods and services.
WCT is the VAT deducted at source of which you can avail credit while paying the vat.
Treatment of WCT TDS is similar with the Income Tax TDS in accounts
WCT is the VAT deducted at source of which you can avail credit while paying the vat.
Treatment of WCT TDS is similar with the Income Tax TDS in accounts
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- Tax liability on income of freelancer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
