Payment of audit fees: 194j applicability

yashsr (CA) (2285 Points)

17 March 2012  


A Pvt Ltd Co who does yet have a TAN no. has to pay audit fees(and other compliance based professional fees) for the following years:

1) Financial Year 2009-10: Rs.4000

2) Financial Year 2010-11: Rs.25100

3) Financial Year 2011-12: Rs.25000

Now, it has already paid Rs.15000 on account to the CA firm in the month of February 2012. Now how should it pay its balance so as to avoid the limit of 30000 u/s 194J? Is 194J on payment basis or accrual basis?