Provision for Audit Fee

This query is : Resolved

Jayesh Jagetiya (Querist)
Follow

11 May 2009
Dear friends,
Whether we have to make provision & deduct TDS for the following exp for the F Y 2008-09 as on 31.03.2009 :-
1. Tax Audit fee (It will be signed on 31.08.2009, & bill will be issued dated 31.08.2009)
2. Statutory Audit Fee (will be completed on 31.07.2009)
3. Internal Audit Fee (will be completed on 30.06.2009

ca hardik

ca hardik (Expert)
Follow

11 May 2009 Yes,it is advisable to make provision as of 31st march,2009. as all this service relating to the financial year 2008-09, and the end result of the event is certain,i.e. the fees payable for this service is allready fixed,so company has to make provision for this service as on 31st march,2009.