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Tds u/s 194j

Pankaj (Jr. Accountant) (80 Points)

23 April 2015

Dear All

we formed a LLP on 14.02.2015 and for same our CA charges their fees vide bill date 02.04.2015.

i want to know should we account for this legal expenses under f.y. 2014-15 as provision and deduct TDS in F.Y. 2014-15?

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5 Replies

(Guest)

In my opinion the CA has raised the bill on 2/4/15 but the services were provided in FY 2014-15 so you can account for this in 2014-15 FY as a provision and deduct TDS accordingly.

You can ask the CA for his opinion on this :)

CA AnKiT BoHrA (AB) (Manager) (25955 Points)
Replied 24 April 2015

yup agreed with madhvi ji... post that bill in previous financial year...

or by having conversation with CA, you can create the outstanding liabiity on 31st for the same and tds should b deducted on provision then...

(Guest)

CA Bohra, sorry ..I just changed my post. As yopu said I feel that creating a provision is a better option.

CA AnKiT BoHrA (AB) (Manager) (25955 Points)
Replied 24 April 2015

its ok madhavi ji...But rather than changing the posts... you should prefer to post a new comment for the same... sorry dont mind...!! so that others reply based on your comment need not to change