194J
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 May 2010
whether TDS is applicable for provision fo r audit fee as on 31-03-2010
DEEPIKA GOEL
(Expert)
30 May 2010
Yes, the TDS would be applicable on the provision made for audit fee @ 10% and would be deducted under section 194J as it would fall under profession. As per section 194J of the Income tax act, any person responsible to make payment towards fee for technical services and professional services shall at the time of CREDIT or PAYMENT whichever is earlier, deduct @ 10%.
So it is clear from the above language, that the TDS would be deducted once credited in the books of accounts. And further the TDS would be deducted on the whole amount inclusive of service Tax.
So it is clear from the above language, that the TDS would be deducted once credited in the books of accounts. And further the TDS would be deducted on the whole amount inclusive of service Tax.
30 May 2010
AGREE TDS TO BE DEDUCTED ON PROVISION FOR AUDIT FEES U/S 194J @ 10%.
DYE DATE OF PAYMENT OF TDS SO DEDUCTED IS 31ST MAY
DYE DATE OF PAYMENT OF TDS SO DEDUCTED IS 31ST MAY
NISHIT A. DOSHI
(Expert)
31 May 2010
Hi,
Due date of payment will be 30th september and not 31st may as per the new provisions.
REGARDS,
C.A.NISHIT DOSHI.
Due date of payment will be 30th september and not 31st may as per the new provisions.
REGARDS,
C.A.NISHIT DOSHI.
31 May 2010
NITISH JI DUE DATE WILL BE 31ST MAY. IF PAID AFTER 31ST MAY INTEREST @ 1% P.M. WILL HAVE TO BE PAID.
Rahul Gupta
(Expert)
31 May 2010
Agree TDS to be deducted on payment or credit whichever is earlier.
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