Work contract tax
This query is : Resolved
24 October 2013
Is it required to pay WCT even after obtaing exemption Certificate ?
My one client is an electrical contractor in some of the contracts he obtain E.C. and deposit the required prescribed fee. He is required to pay WCT @ 40% i.s. 4.944% on the value. I want to know whether WCT is payable even after obtaing the E.C. ?
secondly id TDS deductible from the payment of WCT ?
I shall be obliged for the guidance.
My one client is an electrical contractor in some of the contracts he obtain E.C. and deposit the required prescribed fee. He is required to pay WCT @ 40% i.s. 4.944% on the value. I want to know whether WCT is payable even after obtaing the E.C. ?
secondly id TDS deductible from the payment of WCT ?
I shall be obliged for the guidance.
25 October 2013
If you are exempted from VAT (i.e.exemption certificate is issued to you), then you need not pay wct nor to charge the wct to client
if your work contract is exempted, no deduction of tds (WCT)
if your work contract is exempted, no deduction of tds (WCT)
25 October 2013
Thanks to CA Umesh Dulaal.I am obliged.
Sir,
Today I have posted one request to all experts like you to start giving guidance in Income Tax, VAT, Excise, Service Tax and TDS, because ost of the enterprenuers/ traders/ business people like to have guidance even accounts keeper like me need such guidance from experts. Then why should not start giving guidance in these taxes one by one mainly procedure of preparation, e finling the returns and epayments.
If it is possible for you we shall be highly obliged.
Yours
Subhash chandra sharma
Sir,
Today I have posted one request to all experts like you to start giving guidance in Income Tax, VAT, Excise, Service Tax and TDS, because ost of the enterprenuers/ traders/ business people like to have guidance even accounts keeper like me need such guidance from experts. Then why should not start giving guidance in these taxes one by one mainly procedure of preparation, e finling the returns and epayments.
If it is possible for you we shall be highly obliged.
Yours
Subhash chandra sharma
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