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Provision of audit fee

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23 April 2012 WHILE MAKING A PROVISION OF AUDIT CAN WE EXCLUDE SERVICE TAX ??

SINCE SERVICE TAX RATE HAS CHANGED FOR F.Y 12-13 & WE HAVE TO MAKE PROVISION OF AUDIT FOR THE F. Y 11-12, WHAT EXACTLY WE SHOULD DO WITH REFF TO SERVICE TAX & TDS.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
11 May 2012 Since provision is an estimate, you can make a Provision by excluding service tax .

Alternatively, provision may also be made by considering service tax @ 12.36%.

TDS will be deducted on the full amount of provision, whether inclusive or exclusive of service tax.
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