Professional Fees

Tax Glossary Definition

Professional Fees

Professional fees are payments made to qualified professionals such as Chartered Accountants, lawyers, consultants, or technical experts for services rendered. For businesses, these fees are treated as allowable expenses and can be deducted while computing taxable business income. Applicable TDS provisions may also apply at the time of payment.

Example: Payment of ₹25,000 to a CA for tax and audit services is deductible as a business expense

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