wct

This query is : Resolved

jay arya......... (Querist)
Follow

27 January 2010 hello sir

i am work contractor in composition scheme,for the 3rd qtr my sale tax deatls as under

contract receipts =7,50,000
Tax payable @3%= 225000

TDS (WCT) =165000
Balance tax deposit= 60000

But, we found that one party did not deposit tds (WCT) for Rs, 120000. part says that due to funding problem he will deposit after some days

but i have to filed my Dvat return so plz tell me what i can do ,last date of return 28 january .

thanks

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
Follow

27 January 2010 Credit of tds not deposited by the party is not admissiable to you . Refer Form Dvat -43 of Dvat-04 . according to DVAT-43, receipted challan is must for geeting tax credit .

Vishnu Saboo

Vishnu Saboo (Expert)
Follow

28 January 2010 i think you must diposit your total liability i.e. 1.8 lakh, and subsequently you can take credit of WTDS, when party provides you certificate along with challan.

Upgrade to CAclubindia Pro. Subscribe Now!