01 May 2023
We showed audit fees payable RS4000/ AS ON 31/3/2022 BUT MY AUDITOR BILLED RS6000/ IN September 2022 AND WE PAID RS 6000/ TO THEM. THEY ALSO CHARGED RS1500/ AS INCOME TAX RETURN FILING. HOW WILL WE SHOW DIFFERENCE OF RS2000/ IN AUDIT FEES IN OUR BOOKS OF ACCOUNTS? HOW WILL WE SHOW RS1500/ GIVEN ON ACCOUNT OF INCOME TAX RETURN FILING? PLEASE GIVE THE ENTERIES REQUIRED TO BE MADE IN BOOKS OF ACCOUNTS?
01 May 2023
Debit Rs. 1500/- under professional fees ... & Rs. 2000/- as under.. Dr. Prof fees payable Rs. 4000/- Dr. professional fees Rs. 2000/- Cr. Bank Rs. 6000/-
01 May 2023
Can we combine both Rs1500/ and Rs2000/ excess audit fees together under professional fees . Will these expenses be allowed under income tax?
01 May 2023
Audit fees payable shown was Rs4000/ on 31/3/2022 balance sheet. Now auditor raised bill of Rs6000/ in September 2022 with gst@18% . How will we make entry of auditors bill in books of account and square Rs4000/ audit fees payable B/F.PL CLARIFY WITH JOURNAL ENTERIES?
01 May 2023
I have already stated in my earlier reply, that only the extra amount is to be debited to professional fees in current FY. Rs. 4K gets debited to the balance bought forward.
CAclubindia
