salary or professional fee
This query is : Resolved
03 September 2009
Dear sir
An accountant comes on sundays in a propreitorship concern to make its accounts. Whether payment to him will be in nature of salary or profeesional fee for the purpose of TDS provisions?
Thanks
An accountant comes on sundays in a propreitorship concern to make its accounts. Whether payment to him will be in nature of salary or profeesional fee for the purpose of TDS provisions?
Thanks
03 September 2009
in my opinion, u can not make payment under professional fees, as the definition of profession does not includes it, further salary should be made to a person who is in regular employment there..
in my views TDS should be deducted under 194C
in my views TDS should be deducted under 194C
03 September 2009
agree with Expert
03 September 2009
Very complicated reply,
We can even pay to employee if he works on weekly basis as per the company policy. Now in your case you have contract with accountant to finish the work in given timeframe. Now this will be covered as professional & technical consultancy part. This will be covered u/s 194J as professional fees paid.
For accounting head purpose you can dr. this as "accounting Work" in profit & loss account.
We can even pay to employee if he works on weekly basis as per the company policy. Now in your case you have contract with accountant to finish the work in given timeframe. Now this will be covered as professional & technical consultancy part. This will be covered u/s 194J as professional fees paid.
For accounting head purpose you can dr. this as "accounting Work" in profit & loss account.
03 September 2009
I totally agree with the reply given by Mr.Chetan Soni
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Under construction property in ITR
- Building tax payment deduction in rental Income
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Rental income of jointly held property
- Indian IT Portal issue in computing tax as per UK-India DTAA
- F & O PROFIT REPORTING FOR AY 2026-27
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
