Tds

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eshwar (Querist)
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22 July 2013 Mrs.A is Director in ABC LTd. and partner in XYZ..now XYZ is defunct partnership firm but partners have fallen in litigation for the property in the firm...litigation expenses incurred on this behalf is paid by ABC LTD. is TAX IS TO BE DEDUCTED ON LEGAL FEES PAID by ABC ltd. on behalf of director??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 July 2013 Yes TDS is required to be deducted on payment of legal fees u/s 194J @10% provided threshold limit of Rs 30000/- p.a. is crossed.

eshwar

eshwar (Querist)
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22 July 2013 there will be no deduction available to the company(in terms of expenses for business)?and the bill is drawn in the name of jaya patel...plus is it not necessary to tally the accounts of the company with TDS return details filed??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 July 2013 If no deduction available and bill raised in the name of Jaya Patel then company should pay the legal fees through Jaya Patel. I.e., company paying to Jaya Patel and Jaya Patel paying the legal fees to the legal firm.

eshwar

eshwar (Querist)
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22 July 2013 yes sir,
can we take the bill in name of company and take deduction?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 July 2013 Yes you can do that....

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