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Fees paid for Auditor

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Vas Chandran

B.Com

92 Points Posted on 08 April 2020

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)

Quick Summary

This discussion explores whether the annual fees paid to an auditor for filing income tax returns can be claimed as a deduction. Generally, if your income is classified under Profits and Gains from Business or Profession (PGBP), these fees can be treated as professional or indirect expenses and deducted from your profit. However, if your income is from salary, house property, capital gains, or other sources, this deduction is typically not applicable.

RAJA P M

"Do the Right Thing...!!!"

128157 Points Posted on 08 April 2020

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...

suraj

Student CA Final

288 Points Posted on 08 April 2020

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.

CA Akshay Poriya

job in industry

329 Points Posted on 10 April 2020

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 .