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What is WCT TDS? who is liable to deduct the WCT TDS?
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Answer Posted / sunil bhagat
WCT stands for Works Contract Tax.
There is no Works Contract Tax (WCT) now.
It is a VAT on deemed sales under an Indivisible Works
Contract i.e. VAT on the 'Material Value' of an Indivisible
Works contract.
The acronym WCT is invariably used(wrongly) in lieu of TDS
towards VAT on deemed sales under an Indivisible Works
Contract ; what you are now refering to as WCT TDS
A more suitable acronym is TDS(WC). The reason for using WCT
is usually to differentiate TDS(WC) from TDS(I.Tax)
| Is This Answer Correct ? | 9 Yes | 6 No |
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