Maharashtra: works contract tds on purchase of flat

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2014 Hi All
Is Works contract tds applicable for purchase of Flat by a private limited company having a vat registeration?

Details
Company purchase flat @ 74 lakhs(Apprx), Service tax 3 lakhs(approx) and Vat Rs. 70 thousand.

@VaibhavJ

@VaibhavJ (Expert)
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11 January 2014 Hi

Company is required to deduct TDS @ 1% while making payment since value of property is more than Rs. 50 lac

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2014 Vaibhav, my query is whether works contract tds under maharashtra Vat act is applicable?

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@VaibhavJ

@VaibhavJ (Expert)
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12 January 2014 Dear Author,

There is no TDS under Maharashtra Works Contract Act.

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2014 Kindly refer Works contract tds under "The Maharashtra Value Added Tax Act, 2002" Section 31.

http://www.mahavat.gov.in/Mahavat/Controller?option=ACTS

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2014 friends Please Reply

@VaibhavJ

@VaibhavJ (Expert)
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14 January 2014 Hi,

Pl refer link for eligible employer: http://www.taap.co.in/index.php?option=com_content&view=article&id=68:welcome&catid=37:mvat&Itemid=45

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

15 January 2014 The company is eligible employer

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