TDS on Audit Fee

This query is : Resolved

Ravi Kumar Rajgaria (Querist)
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10 May 2008 Audit fee will be finalized during August, 2008 for the year 2007-08.Now provision have to made for audit fee in books in 31st March, 2008. Now How the TDS have to deducted and deposited? Can we just make provision for audit fee and deduct TDs while making payment? Please clear the same.

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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10 May 2008 if provison is made on 31/03/2008 of audit fees then tds amount will be pay before 31/05/2008

R.V.RAO

R.V.RAO (Expert)
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10 May 2008 Sec 40 (a) (ia) ammendment retrospectively to allow deduction of expenses in case TDS of Mar month not paid in time but paid before due date of return

THE ABOVE LATEST AMENDMENT HELPS YOU TO DEPOSIT TDS OF MARCH ON OR BEFORE 30 TH SEPT 08.
HOPE YOU MADE PROV. IN MARCH 08 FOR AUDIT FEES FOR 07-08.
R.V.RAO

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