08 April 2009
for the financial year 2007-08 a company made provision for audit fees but did not made provision for tds on audit fees . Now comany has to made payment to auditors whether it should deduct the tds now. what problems may arise. please guide properly. thanks
08 April 2009
better is to deduct TDS now and deposit it. Atleast in case, if you are asked, you can say that TDS was not deducted due to mistake. and revise your fourth quarter tds return of 2007-08. I have never came across such situation, so can't say whether it shall be possible to file TDS return so late by etds mathods.
08 April 2009
You should deduct tax now and pay it to the government treasury. If the case is selected for scrutiny, the audit fees will be disallowed in the year in which it was booked and it will be allowed in the year of payment of TDS.
CAclubindia
