Accounting

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Neha Mishra (Querist)
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12 September 2014 We have incorporated a pvt ltd company

incurred expense e.g.
1. Govt Fees Rs.18000
2. Professional Fees Rs.16000

Now we have given cheque of Rs.34000

whether TDS liable on this Rs.16000 because i know it will cross 30000 in entire year

further
whether I accounted for entire Rs.34000 as Preliminary Exp.

guide me

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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12 September 2014 Dear Neha,

1.) Answer to your first question is yes, if you know professional fees are going to cross the thresh hold limit you have to deduct tax u/s 194J @10%.

2.) If both of the expenses mentioned are incurred prior to incorporation of co. then both expenses has to be treated as Preliminary exp.

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