Explanation:
Audit reports can be unqualified (clean), qualified, adverse, or a disclaimer of opinion. There is no such thing as a 'Profitable Report'.
Under the Income Tax Act, the 'TDS' on payment of professional fees exceeding ₹30,000 in a financial year is governed by which section, and what is the rate for individuals/HUFs?
Explanation:
Section 194J mandates TDS at 10% on fees for professional services (and technical services) if the payment exceeds ₹30,000 in a financial year.
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