Audit fees provision

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Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2014 How to book the audit fees for the f.y.2013-14 ?

can this expenses claim deduction in f.y. 14-15 in which audit is carried put for the f.y.2013-14

CA Yugal Purohit

CA Yugal Purohit (Expert)
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24 June 2014 Audit fees will be accounted in F.Y. 2013-14 and you have to take deduction in same financial year i.e. 2013-14,as expenses and income are recognized on accrual basis.

Rupesh Jain

Rupesh Jain (Expert)
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24 June 2014 you can make prov. on dt 31.3.2014 for the fee for the year 2013-14.

and deduct the Tds on the same u/s 194J @10% if you make payment rs. 30000/- in a year.

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