Tds
This query is : Resolved
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??
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.
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??
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.
22 July 2013
yes sir,
can we take the bill in name of company and take deduction?
can we take the bill in name of company and take deduction?
22 July 2013
Yes you can do that....
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