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.
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