Wct

Save Share

This query is : Resolved

shikha (Querist)
Follow

10 March 2010 Hi can anyone plz guide me what is work contract tax & what are the rules & regulataions regarding it? or plz provide me any link to study it. since we are a construction company .........
Is it Wct of Sec 194C,how it is different from tds?

Vishnu Saboo

Vishnu Saboo (Expert)
Follow

13 March 2010 Some contracts are for contracts for labour, work or service and not for sale of goods, though goods are used in executing the contract for labour, work or service e.g. when a contractor constructs a building, the buyer pays for cost of building which includes cost of building material, labour and other services offered by the Contractor. Property in building is passed on to buyer and there is no contract for supply of building material as such.
it is kind of sales tax and ofcourse not governed by Sec 194C of Income Tax Act, 1961.

shikha

shikha (Querist)
Follow

13 March 2010 thanks a lot...... raelly good reply sir
can plz provide me some more link for details.......

Vishnu Saboo

Vishnu Saboo (Expert)
Follow

19 March 2010 you can search it on google, a lot of material you can find there.
either give me your mail Id i'll provide you the study materials.

shikha

shikha (Querist)
Follow

19 March 2010 thanks a lot yar......... ya my id is
shikha.jain87@gmail.com

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now