WHEN shall i provide audit fees for the year 2012-13.
The answer is 1. as on 31.03.2013
2. when it has been received.
The audit will be started after 31.03.2013 and expected to end before 30.09.2013. that it means it accrues after 31.03.2013
so what do you think the audit fees shall be provided on 31.03.2013 or as when received.
1.The Exact amount of audit fees will be known at the time of payment.
2. Income will be shown by CA, when it is received
3. For CA it create problem(if accounted as on 31.03.2013 in assessee books) as below:
2012-13 NO Income for CA actually, but TDS 26AS xxxx
2013-14 Actual Income for CA, But No TDS in 26AS
So which is better to account audit fees.
Posted 6 years, 5 months ago by SANJAY KUMAR GANNA
The generaly CA will account in the year of audit that is 2013-14.
But client will account in 2012-13.
As afar CA is concerned he can take TDS credit in the 2013-14.
As challan details are to be provided in Return, he can fill only the details of current year TDS correspondance to his current year income.
Posted 6 years, 5 months ago by CA Pulkit Sharma
I think this question needs to be answered with reference to
1. Point of taxation Rules, 2011.
2. Accounting standard - 9 Revenue Recognition
As per POT Rules, 2012 - we need to pay ST on reciept of payment. hence, we may consider it as one of the criteria.
However, if we apply AS- 9, we need to consider in the FY to which the fees pertains i.e 2012-13 since the services pertains to the audit for the year mentioned earlier.
Expert opinion required
Posted 6 years, 4 months ago by HS VEDANTA DESHIKA
Just because TDS credit available in 26AS we not supposed pay tax on income for A.Y.2013-14 in A.Y.2012-13
we can diclose our income as per books of accounts maintained and as it is not possible to defer tds credit to next year we can claim total tds credit which is available in 26AS
Posted 6 years, 3 months ago by Ganesh babu k
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