Tds
This query is : Resolved
30 December 2012
Dear sir,
We paid Rs.70770/- as audit fee for the F.Y 2010-2011. but we forgot to cut TDS on that amount.the same tds amount was paid in this year.Can they set off this tds amount with current year income?
Rergds.
Shyamlal.K
We paid Rs.70770/- as audit fee for the F.Y 2010-2011. but we forgot to cut TDS on that amount.the same tds amount was paid in this year.Can they set off this tds amount with current year income?
Rergds.
Shyamlal.K
31 December 2012
Mr Shyamlal
Your auditor should have guided you properly and well in time while receiving the audit fee.
As the fee relating to 2010-11 was paid in 2011-12 so you can take up the TDS (already deducted and deposited) on payment basis. In short you can set off this year.
Your auditor should have guided you properly and well in time while receiving the audit fee.
As the fee relating to 2010-11 was paid in 2011-12 so you can take up the TDS (already deducted and deposited) on payment basis. In short you can set off this year.
01 January 2013
As the TDS was not deducted and deposited in FY 2010-11, the Amt. of Audit fee would be disallowed in FY 2010-11.
It would be allowed in the year in which the TDS on Audit fee is deposited.
It would be allowed in the year in which the TDS on Audit fee is deposited.
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