Works contract tax

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Ramaswami Thondikulam (Querist)
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23 October 2013 Dear Sir,

What is WCT output Tax and if our Vendor has charged WCT output Tax, do we have to deduct WCT TDS inclusive of WCT output tax amount

Pls confirm

Regards
Ramaswami

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 October 2013 In the cited case, income tax is to be deducted on the bill amount ie, inclusive of WCT (levied as per the VAT act) by the contractor.

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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23 October 2013 If you are required to do TDS on works contract bills,you have to do it on the taxable value i.e. before deducting any TDS or charging any output tax....mjk

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Ramaswami Thondikulam

Ramaswami Thondikulam (Querist)
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24 October 2013 Thank you very much sir for replying to my query

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