Dear All Professionals,
As We Know TDS is Defined as "TEDIOUS" in Our Language.
Really TDS is a Controversial Part of Income Tax in Many Issues.
One Which is Most Popular, Since Audit Fees Decided at Time of Auditing Only, & Generally Audit Start in Aug or September Month of All Unlisted Companies or Private Firms.
Fees Also Decided at That Time Only or even Not Decided, Client Came to Know Only at time of Invoice Payment.
Now Say TDS Need to be Deduct, Than Client Need to Pay TDS Along With Interest, or Also Need to Revise The return of Fourth Quarter.(If We Go by Laws)
Now CA Already Filed Return of Income of His CA Firm, Now in 26AS TDS Credit is Showing, Again He Need to revise The return, or Contradictary He May Take Credit in Next Year.
In This Situation, Different People are Following Different Practices.
But There is No Standard.
Since If We Go bylaw, Then Audit Fees Provision Need to Made at Time of 31st March & Accordingl TDS Need to be Pay & File TDS return & After That in Month of September/August One Can Have a Audit of His Books of Accounts.
(The Participants in This Query Can Only be Those Professionals or Practisioners or Those Having Practicle Knowledge)
(Students are Not About to Participate in This (Those Dont Have any Practicle Exposure)
CAclubindia
