At what rate TDS to be deducted on Provisioning of Year End Expenses - 7.5% or 10%
I have received Invoice -Audit Fee on 9 Apl-21 for Audit of FY - 20-21
5 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 09 April 2021
TDS on audit fees should be deducted u/s 194J @ 7.5% as invoices is received between 14.5.20 to 31.3.21 year end expenses
Vipul Acharya
(Account Officer)
(647 Points)
Replied 09 April 2021
Sir, actual invoice received today on 9 Apl-21
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 09 April 2021
1) Tax to be deducted at source, at the time of credit or date of payment, whichever is earlier.
2) Provision has been made during FY20-21 and hence tax to be deducted @ 7.5% in this case.
Note: Subsequent receipt of invoice is just a confirmation of the provisional entry.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 11 April 2021
TDS u/s 194J @ 7.5% to be Deducted
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