anita mourya (practice) (68 Points)
14 April 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178293 Points)
Replied 14 April 2017
" now in this F.Y.2016-17 he want to pay my fees Rs.50000. hence, whether TDS is applicable on the same?"
If he is liable for tax audit for AY 2017-18, then yes.
anita mourya
(practice)
(68 Points)
Replied 14 April 2017
Sir, professional fees has charged on Accrual basis. This fees is not belong to Current year.
CA Mayur Todmal
(Practicing CA)
(7756 Points)
Replied 14 April 2017
If payer is covered under tax audit , he has to deduct tax . As payment in a year exceeds Rs. 30K.
anita mourya
(practice)
(68 Points)
Replied 14 April 2017
for example.
(Covered under Audit from F.Y. 2014-15) Fees for F.Y 2014-15 is Rs. 40000 and F.Y 2015-16 is Rs.50000 now He is Paying Professional fees of Rs. 100000, so in this case TDS in F.Y. 2016-17 not applicable Because, already paid TDS on Rs.90000(40000+50000).
(Covered under Audit from F.Y. 2016-17) Fees for F.Y 2014-15 is Rs. 40000 and F.Y 2015-16 is Rs.50000 now He is Paying Professional fees of Rs. 100000, so in this case is TDS in F.Y. 2016-17 applicable. Only Because Paying fees in this F.Y.2016-17.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178293 Points)
Replied 15 April 2017
" (Covered under Audit from F.Y. 2014-15) Fees for F.Y 2014-15 is Rs. 40000 and F.Y 2015-16 is Rs.50000 now He is Paying Professional fees of Rs. 100000, so in this case TDS in F.Y. 2016-17 not applicable Because, already paid TDS on Rs.90000(40000+50000)."
This one is correct option.
CAclubindia
