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TDS on payment of stock audit fees by bank

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38 Points Posted on 28 December 2018
a bank is making payment to an independent auditor of amount 23000.is the limit of 30000 for deducting tds for single payment to single party or not?
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On 28 December 2018 at 11:03 Report
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9 Points Posted on 28 December 2018
no tds is attracted
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On 28 December 2018 at 11:57
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Accounts Executive
749 Points Posted on 28 December 2018

No, if limit exceeds then tds will be deduction u/s 194J.

 

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On 28 December 2018 at 12:03
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38 Points Posted on 28 December 2018
thanks for reply . one more query, does the stock audit fees become the expense of bank or can it be recovered from the customer's account?
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On 28 December 2018 at 12:14
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Accounts Executive
749 Points Posted on 28 December 2018
it is bank expense.
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On 28 December 2018 at 12:48


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