03 June 2010
what is the tax treatment of Audit fees received in Assessment year 2010-11,of audit of financial year 2009-10,while company will issued TDS certificate in releted to financial year 2009-10(in the hand of Auditor and related company)
from CA firm point of view same will be taxable on the basis of method of accounting regularly followed by firm. Normally they follow cash basis, in that case it will be taxable in the year of receipt and tds credit has to be claimed in the year when it is offered as income.
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