22 October 2009
WCT = works contract tax. 1. It is applicable in the following conditions. a) when a busimess entity entered into a contract with any person to do some work along with material in his businees place i e a company assign a furniture work to X with material like Board ,sanmica etc and labour charges . b) contract amount is more than 1 lacs.
2. rate is specited by state govt. At present in haryana , it is 4%.
3. WCT to be deposited on 15th of following month.
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