Dear All,
If a Member of ICAI does not Hold COP but a CA Firm /Law Firm offered him Professional Fees. Is it Salary or Professional Fees. Please Clarify.
Thanks and Regards
12 Replies
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 20 April 2022
You need not hold a COP to receive professional fees.
it is clearly professional fees in your case.
it is clearly professional fees in your case.
ankur bhasin
(Audit Supervisor)
(33 Points)
Replied 20 April 2022
Thanks,
a) But if a Person is not holding COP then a CA Firm /Law Firm Generally gave Salary to a CA not Professional Fees.
b) Does a Person needs to Billed to Firm for his Professional Fees every month to a Firm.
c) Then is the TDS is u/s 192 or 194J.
CA. Abhilash Krishnan P
(Chartered Accountant)
(533 Points)
Replied 20 April 2022
Employee employer relationship is important to consider it as salary.. otherwise definitely consultation fees
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 20 April 2022
If he is on the payroll then it is salary..Check offer letter once ,you may find it whether it is Salary or professional fees.
ankur bhasin
(Audit Supervisor)
(33 Points)
Replied 20 April 2022
Offer Letter mentions " Professional Fees" in a CA Firm/Law Firm.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 20 April 2022
Then Tds under section 194J is applicable
ankur bhasin
(Audit Supervisor)
(33 Points)
Replied 20 April 2022
Is Billing Needs to be Done on a Monthly Basis for the same to CA Firm/Law Firm.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 20 April 2022
It can be freelancing also..Bill may be issued if there is any registered business or for the purposes of accounts
ankur bhasin
(Audit Supervisor)
(33 Points)
Replied 20 April 2022
Fine, The only Confusion is They have appointed the Person in their CAFirm/Law Firm so he cant be a FreeLancer and written Professional Fees not Salary. Thereby raised the Question of Billing .
sabyasachi mukherjee
(27574 Points)
Replied 20 April 2022
Contractual obligation.
yes
nature professional service sec 194j
no professional service sec 192
yes
nature professional service sec 194j
no professional service sec 192
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