works contract tax
This query is : Resolved
kaviyarasan
(Querist)
21 July 2009
if a concern is doing business relating to construction,and when they acquire any government contract, then whether they can claim the works contract tax as expenses, which is deducted and paid by the government on behalf of them
Amit Sheode
(Expert)
22 July 2009
Basically all indirect taxes actually borne & paid are allowable as direct costs against that income. So far as deduction & payment by the employer is concerned, TDS is just a mode of payment & the TDS certificate is as good as challan & hence it can be claimed as deduction as direct expenses against the income.
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