We are a Private Limited Company. Our CA told us to make Provision for Audit fees for last year and not to make payment of TDS. What does it mean? i.e. For F.Y.2012-13 our Addit Fees are 50000 so TDS on this will be 5000. So ur CA told us that we will pay Rs.5000 on 01.04.2012 and deduct TDS on bill to bill basis. Is this right Method?
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What is provision for professional fees?
Replies (2)
I think he is telling for the provision of F.Y. 2011-12.
Rs.50000 fees is for F.Y.2012-13
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