Chartered Accountant
242 Points
Joined April 2013
Sorry Naveen,
I disagree to your reply.
TDS on Audit fees is deductable u/s 194J at the time of book entry or payment which ever is earlier.
Here is the extract of the provision :
1) Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any sum by way of—
(a) fees for professional services, or
(b) fees for technical services26, 27[or]
28[(ba) any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company, or]
27[(c) royalty, or
(d) any sum referred to in clause (va) of section 28,]
shall, at the time of credit of such sum to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to 29[ten] per cent of such sum as income-tax on income comprised therein.