Generally Audit Fees is decided by the Board of Directors in consultation with the Auditors at the time of finalization of accounts, which mostly are done in August. Provision for the same is made in the previous year for which TDS is required to be paid in May and Return is required to be filed in June. Generally it is very difficult on or before end of May to finalize amount of Audit Fees and sometime even name of Auditors. There may be some instances where amount of Audit fees differs or Auditors may change like:

a) Statutory Auditors were appointed as Tax Auditors after end of May.
b) Other Chartered Accountant is appointed as Tax Auditors instead of Statutory Auditors in earlier year.
c) Auditors resigned or otherwise termination of assignment and another Auditor is appointed.
d) Merger/ Demerger of Audit Firms takes place.

In these types of cases it is difficult to pay the TDS on Audit Fees on or before end of May, file TDS Return and issue TDS Certificate before end of June. TDS certificate is required to be handed over to the deductee within 7th June i.e. TDS Certificate is to be handed over before completion of assignment and payment.

In these circumstances what should be the date for deduction and payment of TDS -- 31st March and 31st May or within 7th day of following month in which accounts are finalized.

If dates are 31st March and 31st May there is a genuine reason to relax the provisions in this regard.

Please send me latest TDS Rates applicable for various sections

Can anybody suggest which books have to refer for IIM CAT examination? Please give in detail.

Thanks in advance

Shashi

Do we get leave credit for working on the Public Holidays & for the work done at client place on the days on which our principle office is closed.
If Yes then what is the procedure?
Shall we need to take it in writting on letter head & signed by our principle.

Please give TDS Rate chart of Financial Year 2008-09

can any one give me the phone no of chennai icai ?

Hi all.

I have cleared PEII GroupI in November 2007. I am going to appear Group II in May 2008.

This the last attempt in PE II course.What happens if I do not clear Group II this time? Whether I trfd to PCC?
Please Guide

Hellp

My query is that whether education expense (tution fees, exam fees, foreign travellin expenses) on employee will be treated as perquisites in the hand of employee.

What about the FBT on the same?

Please provide me any reference materail if you have regarding your answer..

thanx

Himanshu

It is mandetory from 1st of April, 2008 to pay tax on line. But in first week of April,2008 we have paid tax in bank via challan. Bank also accepted the same.
Will it create a problem in future assessment or it is valid? Please guide.

if purchase is made from urd we can carry forward that amount to next year for sett off