audit sec. 226(3)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 November 2009
If a CA take advance audit fees from his client, would it be considerd as part of Indebtness which is given u/s 226(3).
06 November 2009
NO
08 November 2009
An auditor cannot said to be indebted to the company within the meaning of section 226(3), where he is recovering his fees on a progressive basis even though the job is not complete.
Courtesy : - Compendium of Guidance Notes, September 1985, page 121.
Courtesy : - Compendium of Guidance Notes, September 1985, page 121.
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