Home > Experts > Income Tax > TDS on Professional Fees


Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


TDS on Professional Fees (Income Tax)

Report Abuse
This query is : Resolved


( Author )
21 May 2011

Dear Members,

I am practising CA in Ahmedabad.I have carried out Statutory Bank Branch Audit of Indian Overseas Bank related to F.Y.2010-11 i.e. Ass.Year 2011-12.This assignment was completed on 8.04.2011 & raised My Professional Bill towards Audit Fees of DT.08.04.2011.Subsequently
I got the Payment in May,2011 after deducting TDS along with relevent TDS certificate for Asst. Year 2011-12.As I am maintaining Books on cash basis Hence I booked the Professional Income in Current F.Y. i.e. 2011-12 relevent to Asst.Year 2012-13.

Now query is How can i claim TDS Amount related to Asst Year 2011-12 in our books for the F.Y.2010-11. Even also I cross Verify the same with Form 26AS related to Asst. Year 2011-12 & shown the same in Asst Year 2011-12.

So whether i supposed to claim such TDS amount in Asst Year 2011-12 or 2012-13.
Please confirm with Accounting effects in Books.


Aditya Maheshwari

( Expert )
21 May 2011

Claim such TDS amount in Asst Year 2012-13 as per generally followed system of accounting.

Also read section 199. You will get clarity that TDS claim should be backed by income


Previous

Next

You need to be the querist or approved CAclub expert to take part in this query .


Click here to login ( Members Login ) now


Similar Resolved Queries :











submit










Quick Links





back to the top