01 April 2016
The Audit fee for the FY 15-16 for our society is 10,000+ST=11,450. While making provision entry we have to show TDS and need to remit it before April 30 ?. I searched this matter in our site but I am in confusion. Experts kindly carify the same as it is useful for all. Kindly clarify the below which entry is correct.
1, Audit Fee 11450 Audit Fee payable 11450
2, Audit Fee 11450 XYZ 10450 TDS on Profession 1000
01 April 2016
at the year end, pass entry debit audit fee 11450, credit xyz 11450. debit xyz 1000 credit tds deducted u/s 194 J on audit fees 1000 on or before 30/04/2016, at the time of payment: debit tds deducted u/s 194J on audit fees 1000, credit bank 1000 at the time of payment to auditor debit xyz 10000 credit bank 10000
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