TDS

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CA Sanjay Baheti (Querist)

29 June 2010 The Statutary audit for PY 2009-10 was conducted for various branches of banks in April 2010.As our firm is following cash system of accounting we recorded the audit fee as income of PY 2010-11. But TDS certificate issued shows tax deducted from audit fee due for AY 2010-11. How can we claim this TDS in AY 2011-12.Is there any Provision in IT Act.Pl Clarify

Shyam Lal Naik

Shyam Lal Naik (Expert)

29 June 2010 Sir,

You need to incorporate the certificate in the AY 2010-11 and enter 0 in col titled "Amount out of (6) claimed for this year". The amount can be claimed in 2011-12.

The above clarification wrt Excel Utility ITR 4.

Aditya Maheshwari

Aditya Maheshwari (Expert)

29 June 2010 How do u claim TDS in respect of other audits i. e. in respect of audit fees provided at the year end? You account the same on cash basis only. Then why some special treatment in needed for this.

Furthermore u can read section 199 along with rule 37BA for further clarification where TDS claim should be backed by income.

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