Legal and professional expense
This query is : Resolved
Sagar Kumar Batra
(Querist)
03 January 2013
what is importance of legal and professional expense in statutory audit?
CA Priyank Singhi
(Expert)
03 January 2013
It is important because these provisions are covered by TDS in case the specified limit has been crossed.
03 January 2013
Hey
Its necessary that it is incurred as per law & remitted to govt in due time
Thanks!!
Its necessary that it is incurred as per law & remitted to govt in due time
Thanks!!
Sagar Kumar Batra
(Querist)
03 January 2013
what if there is significant increase or decrease in these expenses
CA Priyank Singhi
(Expert)
03 January 2013
You need to check the bills. That is the best you can do. Do check that TDS has been deducted appropriately in case the threshold limit has crossed.
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