What is WCT? On Which it is calculated?
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Answer Posted / ravi hasija
WCT means Work contract Tax, it means when a company gives
the contract to another company to be workdone with labour
and another company worked. then the main company duduct
the wct 4% or 2%(if they have approvel from govt.).
and first company deposit that deducted amount in bank as
challan, after this retuned in sales tax department.
and issue the wct certificate to the contractor by
contractee...
(It is like a TDS formate but not TDS)
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