Audit fees payable shown Rs4000/ as on 31/3/2023 but CA BILLED Rs6000/ in nov 2023

This query is : Resolved

ARUN GUPTA (Querist)
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01 May 2023 We showed audit fees payable RS4000/ AS ON 31/3/2022 BUT MY AUDITOR BILLED RS6000/ IN September 2022 AND WE PAID RS 6000/ TO THEM. THEY ALSO CHARGED RS1500/ AS INCOME TAX RETURN FILING. HOW WILL WE SHOW DIFFERENCE OF RS2000/ IN AUDIT FEES IN OUR BOOKS OF ACCOUNTS? HOW WILL WE SHOW RS1500/ GIVEN ON ACCOUNT OF INCOME TAX RETURN FILING? PLEASE GIVE THE ENTERIES REQUIRED TO BE MADE IN BOOKS OF ACCOUNTS?

ARUN GUPTA

ARUN GUPTA (Querist)
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01 May 2023 Under which head we will show Rs2000/ excess audit fees paid as audit fees payable was shown Rs4000/ on 31/3/2022 profit and loss ac

ARUN GUPTA

ARUN GUPTA (Querist)
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01 May 2023 Under which head we will show Rs1500/ given as income tax return filing charges?

ARUN GUPTA

ARUN GUPTA (Querist)
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01 May 2023 Under which head we will show Rs2000/ excess audit fees paid as audit fees payable was shown Rs4000/ on 31/3/2022 profit and loss ac

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 May 2023 Debit Rs. 1500/- under professional fees ...
& Rs. 2000/- as under..
Dr. Prof fees payable Rs. 4000/-
Dr. professional fees Rs. 2000/-
Cr. Bank Rs. 6000/-

ARUN GUPTA

ARUN GUPTA (Querist)
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01 May 2023 Can we combine both Rs1500/ and Rs2000/ excess audit fees together under professional fees . Will these expenses be allowed under income tax?

ARUN GUPTA

ARUN GUPTA (Querist)
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01 May 2023 Audit fees payable shown was Rs4000/ on 31/3/2022 balance sheet. Now auditor raised bill of Rs6000/ in September 2022 with gst@18% . How will we make entry of auditors bill in books of account and square Rs4000/ audit fees payable B/F.PL CLARIFY WITH JOURNAL ENTERIES?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 May 2023 I have already stated in my earlier reply, that only the extra amount is to be debited to professional fees in current FY.
Rs. 4K gets debited to the balance bought forward.

ARUN GUPTA

ARUN GUPTA (Querist)
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01 May 2023 Ok Sir thanks a lot for your very valuable support

Message likes : 1 times

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 May 2023 You are welcome.

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