Audit fee

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This query is : Resolved

DHIREN (Querist)

01 August 2014 sir i want to ask that ,
For any F.Y (Suppose 12-13) we do audit for this period in Fy 13-14 . so the audit fee is to be recorded in f.y 12- 13 or 13-14

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

01 August 2014 Audit fees to be provided for in the Financial year 2012-13.

DHIREN

DHIREN (Querist)

01 August 2014 so sir we have to made payable entry as on 31st march.

CA UMESH DULAL

CA UMESH DULAL (Expert)

01 August 2014 Provision for audit fee is to be made.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

01 August 2014 Yes provision to be made in books on 31.03.2013.

DHIREN

DHIREN (Querist)

01 August 2014 THANK U SIR ..BUT STILL I M NOT GETTING LOGIC BEHIND IT .SO SIR U CAN EXPLAIN ME Y WE TAKE THIS IN F.Y 12-13 WHILE THE BILL IS TO BE SENT BY CHARTED ACCOUNTANT AFTER 31ST MARCH.13

CA UMESH DULAL

CA UMESH DULAL (Expert)

01 August 2014 Expenses are to be recognized in the year where it belong and if there is reasonable certainty

DHIREN

DHIREN (Querist)

01 August 2014 then fee charged for return filling to be recognized on estimated basis ..or not

CA UMESH DULAL

CA UMESH DULAL (Expert)

04 August 2014 If there is no explicit contract/agreement, you can do in in estimated basis

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