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What is WCT TDS? who is liable to deduct the WCT TDS?
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Answer Posted / dharmendra samal
Dear friends,
i want to explain the meaning of WCT, WCT is one type of
government dues, that a contractee deductes from a
contractor, and the contractee deposits the same with the
govt. account,
for example:
suppose a contractee gives a contract to a contractor for
construction work of a building, then the contractor
complets the contract and issues the bill to the contractee
of amt. Rs. 12,50,000/-, here is the right of the
contractee to deduct WCT on the total bill amount i.e.,
12,50,000/-, the the same amount should be deposited with
the govt. account before the due date.
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