Easy Office
LCI Learning

Credit of tds under vat

This query is : Resolved 

24 May 2012 Its a general question about the concept of TDS under VAT in case of WCT sales. If my customer deducts TDS under VAT as per Vat Act of the respective state and as general he will deduct tds under 194C. As per IT, I can take the credit of 194C against my IT liability.So Is there any provision in states vat act, which can allow me to take credit for TDS under VAT.If there is no provision then does that mean, it will wipe off some part of my margin.

25 May 2012 Credit of TDS is not allowed against VAT liability.

TDS is levied under Income Tax Act and VAT is levied under VAT Act. Both are different acts.

TDS will not wipe out your margin.

You are liable to pay income tax on your income. Some portion of that tax is already deducted in the form of TDS.

If your tax liability is less than the amount of TDS, you can claim refund of the same.

25 May 2012 well thanks for ur reply sir, but my query is related to credit of tds under vat.can i avail this under any act


25 May 2012 Hi Kurmi,
As per Sec 31 (4) of Maharashtra Value Added Tax act,2002 dealer can claim TDS against the certificate Form 402 issued by the employer.

25 May 2012 Hi Kurmi,
As per Sec 31 (4) of Maharashtra Value Added Tax act,2002 dealer can claim TDS against the certificate Form 402 issued by the employer.

25 May 2012 Hi Kurmi,
As per Sec 31 (4) of Maharashtra Value Added Tax act,2002 dealer can claim TDS against the certificate Form 402 issued by the employer.

25 May 2012 Hi Kurmi,
As per Sec 31 (4) of Maharashtra Value Added Tax act,2002 dealer can claim TDS against the certificate Form 402 issued by the employer.

25 May 2012 Hi Kurmi,
As per Sec 31 (4) of Maharashtra Value Added Tax act,2002 dealer can claim TDS against the certificate Form 402 issued by the employer.


09 June 2012 Similar to Income Tax Provisions You can take credit of TDS under VAT Act against vat tax payable.

16 April 2015 thanks sir...................................................................



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query