Wct (tds) allowable for deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2013 Unregister dealer is get a contract & he raise RA bill to his party & party has deducted WCT (TDS) & forced to register under MVAT.
my query is,
after getting registration, can dealer claim the deduction of WCT deducted by his party on bill which he raised on his URD period ??
please give me a detail answer.
Thanks & Regards

Prakash Kochar

Prakash Kochar (Expert)
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05 January 2013 As per provision till contract payment exceeds Rs. 500000/- in a FY no TDS is to be deducted.
If turnover has exceeded the limit and remained URD, the TDS made during the period can be adjusted against the tax payable for the period.

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