GREY AREAS PRONE

TO TAX EVASION BY
UNSCRUPULOUS
WORKS CONTRACT
DEALERS
&
CHECKS
TO CURB THE MENACE
IN THE INTEREST OF
REVENUE
 TENDENCY
o Claiming of higher deduction of labour and service charges in
contravention of Section 5(2)
Some unscrupulous dealers claim exorbitant deduction in respect of
labour and service charges from the taxable turnover of works contract
thereby reducing the output VAT liability.

CHECK
1. For those opting for deduction of labour & service charges on
percentage basis prescribed under rule 3(2) where the same is not
ascertainable from books of account.

Ensure that the correct percentage is applied corresponding to most apt

type of contract from 24 specified categories . The prescribed rate of
deduction ranges from 15% to 30% in different types of contract .
Some unscrupulous dealers wrongly claim as deduction of labour &
services at prescribed rate (of 15% to 30% )on Contract Value including the
amount of output VAT even in the case of works contracts which are awarded
exclusive of VAT i.e. output VAT chargeable extra and not included in
contract value. By this modus operandi, unscrupulous dealers claim
deduction of 15% to 30% on amount of output VAT which is illegal and
unwarranted.
2. For those opting for deduction of labour & service charges on actual
basis under the following heads specified under rule 3(2)

1. Labour charges for execution of work;

2. Charges for planning and architects fees;
3. Charges for obtaining on hire or otherwise machinery and tools used for the
execution of the works contract;
4. Cost of consumables such as water, electricity, fuel etc. used in the execution
of the works contract, the property which is not transferred in the course of
execution of a works contract.
5. Cost of establishment of the contractor to the extent it is relatable to supply of
labour and services;
6. Other similar expenses relatable to supply of labour and services;
7. Profits earned by the contractor to the extent it is relatable to supply of
labour and services subject to furnishing of a profit and loss account of the
works sites.
o Some unscrupulous dealers adopt deceptive methodology of
arriving at the amount of deduction of labour and service charges
which needs to be investigated in the interest of the revenue.

 Ensure that the complete details of deduction claimed by the dealer is

obtained in the specified above 7 heads and verify the same from the
statement of profit and loss /trial balance.

 The dealer is entitled to the deduction in respect of labour and service

charges under the prescribed 7 heads only.

 The specific nature of contract and extent of element of labour and service
charges in the execution of works contract should be examined from the
detailed work orders.
 Some dealers claim deduction for labour & service charges on prescribed
percentage in some of the contracts and actual as per books of account in
the other contracts. As such claim excessive deduction of the bulk/ total
labour & service charges as per books from the taxable turnover of the
contract chosen for actual deduction by including the amount already
claimed by way of fixed percentage in respect of other contracts. It may
be noted that the expense accounts are common for both type of contract
and scrupulous dealers deceive the revenue.

 If possible, there should be one of the option button for choosing the
method adopted out of two. The further details as specified in rule 3(2)
should be part of the online return for furnishing.

 The total of work contract turnover that is material plus labour & service
charges is should always be more than the turnover described in DVAT
43.
 Some unscrupulous dealers wrongly claim of cost of transportation of the
goods forming part of the value of the said goods as deduction of labour &
services.
The apex court has held in the case of Cooch Bihar Contractors Association
vs. State of West Bengal (1996) 103 STC 477 (SC) that the cost of
transportation of the goods (including labour & service charges for
transportation) shall be taken as part of the value of the said goods,
therefore, not deductible as labour & services.

 Some unscrupulous dealers wrongly claim of material/goods portion of

payments made to sub-works contractors as deduction for labour & service
charges under rule 3(2).
Material supplied by the sub-contractor and passed on to the client should
be considered as sales to the contractee by the contractor and is not
allowable deduction of labour & service charges.
TENDENCY
o Declaring more turnover @ 5% and less turnover @ 12.5% in contravention
of Section 4
Section 4 provides that the tax shall be paid at the rate of five paise in the rupee
of the turnover of the dealer pertaining to declared goods, as defined from time to
time in the Central Sales Tax Act, 1956 (74 of 1956), involved in the execution of
works contract if such goods are transferred from the contractor to the contractee
in the same form in which they were purchased by the contractor.
o There is a tendency in the works contract dealer to pay less tax by inflating the
work contract turnover @5% availing the above said provision.

CHECK
 It is pertinent to verify the factum of quantum of such declared goods and
fulfillment of reconditions laid down in the Act from the stock register. The stock
records as prescribed u/s 48 should be examined in order to test the
veracity/correctness of turnover offered for taxation @ 5% being declared goods.

 Moreover, all the purchases @ 5% are not those of declared goods as defined in
Section 14 of the Central Sales Tax Act, 1956.
Ensure that all the purchases @ 5% should be bifurcated in declared and non-
declared goods.
 The proportion of sale turnover declared @5% should be inconsonance of
proportion of purchases turnover of declared goods.

 To facilitate the above verification, it is suggested that the applicable local

DVAT rate wise or declared/non-declared goods wise breakup of central
purchases against Form C, Form F etc. or without forms be made available
in Return format to check the tendency of tax evasion by reporting more
works contract turnover of declared goods @ 5% .

 Some unscrupulous dealers declare the turnover as exempt sales as per

first schedule but in works contract, the tax rate on declared goods is 5%
& other than declared goods is 12.5% only. There can never be exempted
sale @ 0%.
TENDENCY
o NEGATIVE VALUE ADDITION

Some unscrupulous dealers deceive the revenue in the jugglery of

figures by reporting negligible or rather negative value addition thereby
claiming exorbitant refunds .
The analysis of ratio of material purchased to material sold during the year
is on very higher side depicting that there is no value addition, rather it
depicts as if the goods are being sold at loss. The output tax is less than
the input tax as such. Such situation is arising due to claiming of higher
deduction of labour and service charges. The dealer’s net tax figure is in
negative and the scenario of huge carry forward of tax credit is emerging
including TDS
It is specified in section 10(5) that where the goods which have been
purchased by the dealer are sold at a price lower than the price at which it
was purchased by the dealer, the tax credit on such purchases shall be
reduced proportionately in the tax period during which the goods are sold.
It is also provided in the explanation that the tax credit claimed on a
particular purchase shall not exceed the amount of tax payable on its sale.
 CHECK
 R5.5 Work contract taxable at 5%

 R5.6 Work contract taxable at 12.5%

 The sum of the above two in DVAT return must ideally be more than the value
of material consumed i.e. purchases plus opening stock minus
closing stock in relation to works contract.

 Separate Trading Account (with rate-wise bifurcation of items taxable @ 4%,

5% & 12.5% & also declared & non-declared goods classification) for works
contract as well as traded goods should be examined to verify that no goods
taxable @ 12.5% has been offered for tax @ 5% or 0% and no goods taxable @
5% has been offered for tax @ 0%
 TENDENCY
o Suppression of Turnover of Works Contract

Some unscrupulous dealers deceive the revenue of its legitimate output tax by suppressing
the turnover of works contact. The sales turnover declared in DVAT/CST Returns needs to be
examined with books of account.

CHECK
 The dealers should be asked to furnish the fivefold reconciliation of works
contract turnover as under

1 Turnover as per DVAT Returns i.e.

R5.5 Work contract taxable at 5%
R5.6 Work contract taxable at 12.5%
R5.8 Charges towards labour, services and other like charges
R5.9 Charges towards cost of land, if any, in civil works contracts
 2. Turnover as per Form 26AS of the Income Tax Act pertaining to
the activities within the state of Delhi
Form 26AS downloadable from the Income Tax site is an
“annual tax statement u/s 203AA of the Income Tax Act, 1961” of
the assessee having the column as name of deductor, TAN of
deductor, total amount paid/credited, total tax deducted, section
under which tax deducted, transaction date”. Only the row
entries having TAN of deductor beginning with DEL under
section 194C 194Ib, 194Ia and 194J have to be consider.

3. Turnover as per Books of account/P&L/Trial Balance pertaining

to the activities within the state of Delhi
The reconciliation of turnover declared in DVAT requires to be
done in with audited accounts and its bifurcation of branches in
different States.

4. Turnover as per Service Tax Returns pertaining to the activities

within the state of Delhi

Broadly, in woks contract, the service element, i.e. labour &

service charges, is subjected to service tax liability and
material element i.e. goods are subjected to VAT liability.
It is pertinent to compare the value of turnover of service
element reported to service tax authorities & value of deduction
of labour and service charges claimed in DVAT Returns.

5. Turnover as per DVAT 43 or as captured from DVAT 48 filed

 The issue of turnover of sub-contractor needs to be examined.

 If the dealer is engaged in works contract as well as in trading, then it

should be required to submit the separate details of purchases for works
contracts and for trading.

 The miscellaneous and other income schedule in the audited financial

statements should be examined to ensure that any turnover of goods
even the sale of carbon credits etc. is not escaped VAT liability.

 Some unscrupulous dealers sells or transfer material to sub-contractor

and credit/reduce from the purchases in books and do not show as
turnover and deceive the revenue of its legitimate output tax. The
purchases turnover declared in DVAT/CST Returns needs to be examined
with books of account.
 There should be specific head in DVAT 16 for mentioning the amount of
VAT charged which are included in composite value of contract so that the
total of work contract turnover that is material plus labour & service
charges is comparable with the turnover described in DVAT 43.

 Some unscrupulous dealers avoid payment of VAT on works contract

where the material involvement is minimal but not zero. For example, in
works/maintenance/repairs/service contracts executed by contractors at
least nut, bolts, nails, binding wire etc. is used but the output VAT liability
is not discharged claiming the contract outside the ambit of VAT.

 Wrong claim of exemption from levy of vat on works contract of supply,

filling and leveling of mitti/sand.

 Some unscrupulous dealers do not pay VAT on execution of works contract

of supply, filling and leveling of Mitti/sand falsely claiming the said
turnover as exempt sales as per first schedule but in works contract, the
tax rate on declared goods is 5% & other than declared goods is 12.5%
only. There can never be exempted sale @ 0% of works contract.
 TENDENCY
o Contravention of Section 9(2)(b) in claiming tax credit for the purchase of
non-creditable goods specified in Schedule 7 at serial no. 1(xii).

o The tax credit is not eligible on all kinds of cranes, earthmovers, JCB,
excavators, road rollers, concrete mixing machines and other similar
machineries. Some unscrupulous dealers wrongly claim huge input tax
credit in respect of purchases of such capital goods in the DVAT Returns.

CHECK
 The purchase invoices on which the input tax credit should be thoroughly
scrutinized. The tax credit should be disallowed on all kinds of cranes,
earthmovers, JCB, excavators, road rollers, concrete mixing machines and
other similar machineries.

 Further, it should be ensured that credit for other eligible capital goods is
taken 1/3rd each in three years.
TENDENCY
o Contravention of Section 9(2)(b) in claiming tax credit for the purchase of non-
creditable goods specified in Schedule 7 at serial no. 1(ii), 1(ix), 1(xiv) and 1(xv).
o SERIAL NO. 1(ii): Fuel in form of petrol , diesel, kerosene, LPG, CNG, PNG
& Coal.
o SERIAL NO. 1(ix): Office Equipments, furniture, carpets, Stationery Items,
advertisement and publicity material, sanitation equipments, fixtures
including electrical fixtures, and fittings, generators and electrical
installation.

o Serial no. 1(xiv) Goods purchased and accounted for in business but
utilized for the facility to the employees

o Serial no. 1(xv) Goods used for construction of or incorporation in civil

structures and immovable goods or properties not constituting part of the
works contracts.

o The tax credit is not eligible on serial no. 1(xiv) & 1(xv). Some
unscrupulous dealers wrongly claim huge input tax credit in respect of
purchases of such goods in the DVAT Returns.

o The law distinguishes the purchase of goods (which are transferred during
execution of works contracts) with that of purchase of consumables (which
 CHECK
 The purchase invoices on which the input tax credit should be thoroughly scrutinized.
The tax credit should be disallowed on goods purchased and accounted for in business
but utilized for the facility to the employees and goods used for construction of or
incorporation in civil structures and immovable goods or properties not constituting
part of the works contracts.
 Some unscrupulous dealers claim input tax credit on the purchases of non-creditable
goods i.e. spare parts for machinery, consumables, safety helmet, shoes etc. items, fire
fighting equipments & such charges, welding material, aluminum ladder, chainpully
block, testing charges, thermocol sheet, coolant, grinder, nylon rope, drill bit, MS
bucket, pump, extension meter, clamp, cube mould, portable meter, alcohol meter,
broom, canvas, gas, suit boiler etc. which is not eligible to input tax credit because of
being eligible as deduction of labour and service charges.
 The Works contractor will not be eligible to claim any input tax credit on hire
charges/right to use of any goods because they can claim deduction for amount paid
towards hire charges/right to use of any goods as labour & service charges from its
turnover.
 TENDENCY
o Wrong claim of deduction of interstate purchase used in works executed
in
Delhi from the taxable turnover under the DVAT Act.

o Some unscrupulous dealers avail wrong claims of deduction under Section

3, 4 & 5 of th e Central Sales Tax Act, 1956 for their purchases depriving
the Government of the tax due to it by suppressing the turnover.

CHECK
 As per DVAT Act, the goods which are not specific and the property of
which is being transferred under the works contract are very much
taxable. The contracts entered into by the dealer needs to be thoroughly
examined.

 Also some dealers purchasing goods from third parties located in Delhi or
outside Delhi and used in works contract in Delhi claims exemption.
TENDENCY
o Contravention of Section 10(3)(c) which provides that the goods are exported
from Delhi, other than by way of a sale, to a branch of the registered dealer or to a
consignment agent; the dealer shall reduce the amount of tax credit originally claimed
by the prescribed proportion. Some of the dealers do not reverse the input credit for
goods transferred against Form F and hence claim a greater tax credit than is
allowed.

CHECK
 It needs to be examined that no goods purchased against which the
ITC of VAT is claimed are sold against F Form. The stock register
maintained u/s 48 should be verified.
 TENDENCY
o Frequent revision of DVAT returns
o It is observed that the dealer had revised the DVAT Returns in Form 16
almost for all the twelve months and even revised twice for same tax period.
It conveys a very ambiguous state of affairs. It indicates the probability of
manipulation/falsification of books of account as all the figures of sales,
purchases, input & output tax have been drastically changed.

CHECK
 The specific reasons for revisions of Return should be furnished by the dealer and
examined by the department. The revision of returns should not be an unfettered right
of the dealer and should not become the habit of the dealer. The revision should be
allowed in the exceptional circumstances.
TENDENCY
o NON REPORTING OF TURNOVER OF SCRAP
It is unimaginable that no scrap has been generated, discarded or sold in
such huge projects. The sales of scrap might not have been recorded in the
books of account depriving the VAT Department the output tax due to it.

CHECK
 The records of generation of scrap should be examined.
 The records of the dealer should be examined for check the menace. The
internal audit reports and MIS reports should be looked into.
 It is suggested that to plug the leakage of revenue, the legislation should
think of devising some minimum percentage criteria of for taxing the
generation of scrap in various types/categories of contracts (on the same
lines on which the adhoc rates of deduction of labour & services charges)
in consultation of government civil or other engineering bodies.
 The Form 27EQ filed by the dealer in respect of Delhi for Statement of TCS
(Tax Collected at Source) u/s 206C in respect of scrap sold should be
examined to verify whether the output VAT has been offered in DVAT
Return on that or not.
 TENDENCY
o Non Reversal (Disallowance) of Input Credit for Goods Lost or
Destroyed (Rule 7). There may be cases of recovery of the amount from
sub-contractors etc. for goods lost or destroyed by them. The dealer might
have claimed a greater tax credit than is allowed.

CHECK
 The records of the dealer should be examined for check the menace. The
internal audit reports and MIS reports should be looked into.

 The A3.12 has been filled in DVAT Return for Tax credit disallowed for
goods lost or destroyed (Rule 7).

 The Internal Audit Reports (IAR) or Management Information Systems

(MIS) reports should be looked into for probable detection of the
contravention where the mention of goods lost or destroyed might be
there. The same can provide vital clue.
 It is suggested that to plug the leakage of revenue, the legislation
should think of devising some minimum percentage criteria of for
reversal of tax credit for goods lost or destroyed in various
types/categories of contracts (on the same lines on which the adhoc
rates of deduction of labour & services charges) in consultation of
government civil or other engineering bodies.

 There may be cases of recovery of the amount from sub-contractors etc.

for goods lost or destroyed by them. The dealer might have claimed a
greater tax credit than is allowed.
 TENDENCY
o Non Payment of Output Vat on Sale of Fixed Assets
Some dealers evade output tax on sale of fixed assets.

CHECK
 The schedule of fixed assets in audited financial statements and detailed
furnished in point no. 14 of the tax audit report u/s 44AB should be
referred to in order to ensure that output tax is paid on sale of fixed
assets by the dealer in Delhi.
 Some unscrupulous dealers sells old fixed assets as scrap and tax paid
@5% on such sale but old fixed assets (taxable @12.50%) should be taxed
@ 12.50%.
 Ensure that the sale proceeds of fixed assets (as per point no. 14 of the
tax audit report u/s 44AB) equals to Original cost of Fixed Assets
Discarded – Accumulated Depreciation of Fixed Assets Discarded +/-
Profit/Loss on sale of Fixed Assets (As per Audited Financial Statements)
 TENDENCY
o The turnover in works contract tax deducted at source certificate in form
DVAT 43 under section 36A is not in consonance with the turnover declared
by the dealer in DVAT returns.
o Section 36A read with Rule 59 – Clause 6 stipulates that the dealer shall claim the
adjustment towards the payment of output tax of the amount so deducted in his
return for the tax period in which the certificate of such deduction was issued to him.
o Contravention of Section 36A for non deduction of VAT TDS on the payments to sub-
contractors in execution of works contracts

CHECK
 The total of work contract turnover that is material plus labour &
service charges should always be more than the
turnover described in DVAT 43.
 It may be the case where the TDS certificates are claimed twice or the
TDS certificates have been claimed but corresponding turnover on
which tax is deducted not reported in DVAT Return thereby
suppressing the taxable turnover and output VAT liability.
 Verify that the contractor has deducted tax at source to all sub-
contractors in execution of works contracts.
 It may be the case where any contractee has not deducted tax at
source on work contracts executed by the contractor
 TENDENCY
o Non payment of output VAT on sale (of goods/material purchased) to
third parties or sub-contractors. Some dealers sell the goods/material
purchased to third parties or sub-contractors without reporting the same in
VAT sale turnover depriving the revenue output VAT.

CHECK
 All the credit side entries in purchases account should be scrutinized.
The reconciliation of purchases turnover reported in DVAT Returns
with purchases shown in audited financial statements/books of account
should be sought from the dealer.
 TENDENCY
o Inadmissible Input Tax Credit due to Retail invoice, Mismatch tax period,
Mismatch of Annexure 2A, Wrong/Missing TIN, Unsigned Invoices, non-
production of invoices .

CHECK
 The purchase invoices on which the input tax credit should be thoroughly
scrutinized adhering to relevant sections and rules for tax credit as
stipulated in the statue.
 The tax credit may be claimed by a dealer only if he holds a tax invoice at
the time the prescribed return for the tax period is furnished.
 The in depth examination of tax invoices for allowing input tax credit for
other than capital goods is also significant.
TENDENCY
o Composition Works Contract Dealers not fulfilling the prescribed
conditions of making purchases from registered dealers only

CHECK
 It is suggested to make changes in DVAT 16 and its purchases
Annexure 2A for disclosures of purchases made by Composition Works
Contract Dealers from registered dealers only though input tax credit
is not allowed.
 TENDENCY
o Reversal of Input Tax Credit on discounts received as stipulated u/s 10(1)
and in pursuance of Circular no. 30 of 2013-14

CHECK
 All the credit side entries in purchases account, debit side entries in
creditors account and ledger of discount received should be scrutinized.
The reconciliation of purchases turnover reported in DVAT Returns with
purchases shown in audited financial statements/books of account should be
sought from the dealer.
 TENDENCY
o Incorrect claim of Input Tax Credit debited to Profit & Loss Account as
expenditure

CHECK
 Double claim of VAT both under Direct Tax and Indirect Tax Law i.e. claim
of VAT (Input Tax Credit) in DVAT Returns under section 9 as well as
expenses under the Income Tax Act, 1961 is not permissible in law.

 Once the amount of VAT has been debited as expenditure in Profit & Loss
Account, the dealer cannot claim the same as input tax credit
TENDENCY
o Non Payment of CST on transfer of capital goods without Form F
o Some unscrupulous dealers evade output tax on transfer of capital goods
to other branches without Form F.

CHECK

 All the credit side entries in Fixed Assets account should be scrutinized.

 Such capital goods should also be appearing/mentioned in Registration

Certificate.
 TENDENCY
o Purchases of capital goods wrongly debited to Profit & Loss
Account

CHECK
 Purchase of capital goods should have been debited to fixed assets
and not charged in purchases or expenses in Profit & Loss
Account.
 Some unscrupulous dealers charge purchase of capital goods as an
expense in Profit & Loss Account. Such cases should be reported
to income tax authorities.
TENDENCY
o Purchase of goods against Central Statutory Declaration Forms
which are not authorised/allowed in Central Registration
Certificate

CHECK
 Ensure that the goods purchased against central statutory
declaration forms by the dealer should be those authorized/
allowed in Central Registration Certificate.
TENDENCY
o Excess carried forward in DVAT Returns from previous tax period
to next tax period

CHECK
 Ensure that the input tax credit correctly carried forward from
previous tax period to next tax period in DVAT Returns.
Stock register
Provisions of penalty under section 86(13) for non maintenance of stock register
Relevant extracts of Section 86(13) are reproduced as under.

86(13) Where a person is required under this Act to –

(a) prepare records or accounts; or
(b) prepare records or accounts in a prescribed manner; or
(c) retain records or accounts;
and the person –
(i) fails to prepare the required records and accounts; or
(ii) fails to prepare records and accounts in the prescribed
manner;or
(iii) fails to retain the records and accounts for the prescribed
period;
the person shall be liable to pay, by way of penalty, a sum of fifty thousand rupees
or twenty per cent of the tax deficiency, if any, whichever is greater.
As per Rule 42(1)(f) stock records are required to be maintained by the dealer. The
stock records are prescribed as records, books and accounts under Rule 42 of the
Delhi Value Added Tax Rules, 2005 which is reproduced below.
42 Books and Accounts
(1) The following records shall be maintained by a dealer at his principal
place of business, namely:-
(a) A monthly account specifying total output tax, total input tax and net tax
payable
or the excess tax credit due for carry forward.
(b) Purchase records, showing details of purchases on which tax has been paid,
purchases made without payment of tax, purchases made from an exempted
unit
and purchases made from outside Delhi in Form DVAT-30. Original tax invoices
for purchases on which tax has been paid and invoices for purchases made
without
payment of tax shall be preserved date-wise and in numerical order.
(c) Sales records showing separately sales made at different tax rates, zero–
rated
taxable sales and tax-free sales in Form DVAT-31. Copies of tax invoices related
to taxable sales and invoices related to exempt sales shall be retained date wise
and
in numerical order.
(d) Record of inter-state sales and inter-state transfer of goods (including that of
goods
sent for job work) supported by statutory declarations and such other evidence
as
(f) Stock records showing stock receipts and deliveries and
manufacturing records.
(g) Stock records showing separately the particulars of goods stored in cold
storage,
warehouse, godown or any other place taken on hire
(h) Order records and delivery challans, wherever applicable.
(i) Annual accounts including trading, profit and loss accounts and the balance
sheet.
(j) Bank records, including statements, cheque book counter foils and pay-in-
slips.
(k) Cash book, daybook and ledger.

(2) The following records shall be maintained by a dealer having elected to pay
tax under
section 16, namely:-
(a) Details of the goods purchased and sold by him; and
(b) Cash book, daybook, ledger, invoice books and purchase vouchers.

(3) Every owner or lessee of a cold storage, warehouse, godown or any such
place, who
stores goods for hire or reward shall maintain or cause to be maintained a
correct and complete account indicating the full particulars of the person
whose goods are stored and the quantity, value, date of arrival, date of dispatch
and the proposed destination of such goods.
Provisions of penalty under section 86(10) for
suppression of output VAT liability
Relevant extracts of Section 86(10) are reproduced as under.
Any person who –
(a) furnishes a return under this Act which is false, misleading or
deceptive in a material
particular; or
(b) omits from a return furnished under this Act any matter or thing
without which the
return is false, misleading or deceptive in a material particular; shall be
liable to pay, by way of penalty, a sum of ten thousand rupees or the
amount of the tax deficiency, whichever is the greater.
Provisions of penalty under section 86(11) for wrong
claim of input tax credit

Relevant extracts of Section 86(11) are reproduced as under.

Any dealer who –
(a) has claimed tax credit under section 14 of this Act to which he is not
entitled; or
(b) has claimed a greater tax credit under section 14 than is allowed; shall be
liable to pay, by way of penalty, an amount equal to the amount of tax credit
so claimed or ten thousand rupees, whichever is the greater.