Accounting
This query is : Resolved
Neha Mishra
(Querist)
12 September 2014
We have incorporated a pvt ltd company
incurred expense e.g.
1. Govt Fees Rs.18000
2. Professional Fees Rs.16000
Now we have given cheque of Rs.34000
whether TDS liable on this Rs.16000 because i know it will cross 30000 in entire year
further
whether I accounted for entire Rs.34000 as Preliminary Exp.
guide me
incurred expense e.g.
1. Govt Fees Rs.18000
2. Professional Fees Rs.16000
Now we have given cheque of Rs.34000
whether TDS liable on this Rs.16000 because i know it will cross 30000 in entire year
further
whether I accounted for entire Rs.34000 as Preliminary Exp.
guide me
12 September 2014
Dear Neha,
1.) Answer to your first question is yes, if you know professional fees are going to cross the thresh hold limit you have to deduct tax u/s 194J @10%.
2.) If both of the expenses mentioned are incurred prior to incorporation of co. then both expenses has to be treated as Preliminary exp.
1.) Answer to your first question is yes, if you know professional fees are going to cross the thresh hold limit you have to deduct tax u/s 194J @10%.
2.) If both of the expenses mentioned are incurred prior to incorporation of co. then both expenses has to be treated as Preliminary exp.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
