Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 August 2012 sir i want to know that pnb bank had deducted the tds on the bank audit fees on 31st march and deposited to the income tax deptt. on the same date and audit fees received to the auditor on april then how will the auditor treat for the same and what entry will be made for the same on which date ?

Hemant Kumar

Hemant Kumar (Expert)
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18 August 2012 Auditor have to be trteated this transaction as follow.

on 31st March... Audit fee Receivable Ac dr.
to Income Account.

in April ..... Bank/Cash Ac. Dr.
to Audit Fee Receiable Ac.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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18 August 2012 TDS amount will also be debited in the books of the auditor on 31st march

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