Works contract tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 April 2012 Dear All,

Kindly explain me why is WCT Done and its Calculations at the earliest.

Regards

S.Karthikeyan

Ki$hor B

Ki$hor B (Expert)
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26 April 2012 A contract involving both material & labour attracts WCT.
For example a building is being constructed by a assessee company, then WCT is to be deducted at the time of releasing the payments to the contractor.

WCT so collected has to be deposited into the treasury before the due dates &

WCT TDS certificate has to be issued with in the relevant period.

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