Work contract tax
This query is : Resolved
28 April 2012
What is the rate of work contract tax... Is it 4% (old) or 4.12% (old)... Please confirm me with ur wise opinions...
And also if u have any note on it so please send me... It will be very helpful...
And also if u have any note on it so please send me... It will be very helpful...
28 April 2012
Works COntract Tax consists of three components:
Basic Rate + 2% Education Cess+ 1%Secondary & Higher Education Cess
Old rates upto 31.03.2012: 4%+(2%+1%) on 4%= 4.12%
New Rates w.e.f. 04.04.2012: 4.8%+(2%+1%) on 4.8%= 4.944%
Basic Rate + 2% Education Cess+ 1%Secondary & Higher Education Cess
Old rates upto 31.03.2012: 4%+(2%+1%) on 4%= 4.12%
New Rates w.e.f. 04.04.2012: 4.8%+(2%+1%) on 4.8%= 4.944%
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