Fees paid for Auditor

Tax queries 885 views 5 replies

Every  i am submitting  income tax returns through my Auditor  . for this i am paying Rs4000/- per year . can i exempt this fees in my income tax returns . kindly answer .

Replies (5)
Your query is not cleared...

What You want exactly...?

What is Your business...?


-- Auditor filed Your income-tax return then he charge his fee and collect from You.
Here what is exempt..?!
which way You ask exempt...?!


Please be elaborate Your query...
If you are showing your income in the head PGBP, you can claim expenses for auditor payment of 4000 and your profit is reduced by 4000.But
If your income is on salary or house property or capital gain or Other sources..there is no any treatment of such payments.

as you say, submmiting 4000 rupees to auditor for filling income tax return per year. so, specify that wheather the whole amount of 4000 is itr filling fees, or it inclusive income tax . if it is itr fees and your taxable income is under head pgbp then it is showing as a professinal charges in profit & loss account , otherwise upto the extent of professional fees it is allowed to show as a indirect expence .

Anyway you can claim deduction as you will treat it as Indirect expenses in profit and loss a/c. So no need of claiming a separate deduction.
It's very simple...

If the filing by Auditor or (Tax Consultants) then He exactly take it to expenditure (provisions) account...


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