26 June 2012
WCT stand for work contract tax.It is deducted when vendor has worked with material supply.Then forworded bill to me for payment i will deducted tds and wct.For example:-
A company is a Infrastured company.They need some work for civil work.They contacted another vendor like B.B will supply the material and labour will also provide.This is labour an material.A will payment and deducted WCT and TDS both.
CAclubindia
