29 December 2009
is the banker is liable to deduct TDS on the amount paid to auditor,appointed for conducting stock audit,which is debited by banker to customer account ?
29 December 2009
Dear Jyothi As Per Sec. 194J of IT Act, if Bank Paid Fees to Auditor in excess of Rs.20000 then it is liable to deduct TDS, However in your case Bank plays the Role of intermediary & it Doesn't debit the Auditor fees to P/L A/c it collect the fees from Customer & Paid to Auditor so no TDS is required.
CAclubindia
