Work contract tax.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 March 2012
My deptt. being a central govt. deptt. get their feild activities like construction of drifts, drilling etc. and other engg. works. Is work contract tax is deductible from the contractor's bill besides tds under section 194-c ? If yes, what are the rates for f.y. 2010-11 ? what are the other requirements like TAN etc for deposit of wct in govt. account?
Please suggest.
Please suggest.
MJ Krishnamurthy
(Expert)
22 March 2012
Mr Author
Yes,work contract tax i.e.VAT is deductible from the bill payments by the Central govt organisations.It is generally 4% of the total amount,or the actual liability rate specified by the contractor
and permitted by the Department. The contractor should be registered under VAT Act of respective state and his TIN # should be quoted. A certificate of TDS made is also to be issued.....MJK
Yes,work contract tax i.e.VAT is deductible from the bill payments by the Central govt organisations.It is generally 4% of the total amount,or the actual liability rate specified by the contractor
and permitted by the Department. The contractor should be registered under VAT Act of respective state and his TIN # should be quoted. A certificate of TDS made is also to be issued.....MJK
23 March 2012
Expert has given the correct advise and reply please go with him
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
- GSTR9 Annual Return
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Employee secondment
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Reward for festival
- Import of Capital Machine
- LLP audit and disclosure
- Form 144 TDS Return Validation error
- Capital gain on commercial property and investment in residential property
- Appointment of Auditor By Form ADT-1
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
