Our‘s is a engineering spares manufacturing company (SSI Unit) in AP, we set up our unit in a rented premises in industrial estate, recently we purchased a land to set up our own establishment, started construction of Industrial shed, problem raised when the contractor submitted his RA Bill No.1, we deducted only TDS and pay the balance amount to contractor but one of my friend told me that I done a mistake, He said deduct TDS @ 2.266% and works contract tax @ 4% on bill amount. I don’t know about works contract tax, is it correct or not, I want to know what is the procedure of return filing for works contract tax, Please mention complete procedure.
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CAclubindia
