07 December 2013
Suppose Co. A and B has been merged with an existing Co. C on 31-08-2012 and till 31st August few companies has deducted TDS and deposited the same in Co. A & B respectively and the assessee has filed the ITR of Co. C for the year ended 31st March, 2013. Now the Deductor is not ready to file the correction statement for TDS after merger.
Now my question is how the assessee can claim the credit of TDS in CO. C of Co. A and B as it will be rejected by the CPC on the basis that TDS not matched with 26AS.
07 December 2013
This happens in almost all the cases of merger; and deductor's mostly big company do not entertain you request to revise their TDS return. however you are entitled for the TDS deducted in the name of merged companies subject to other conditions i assume you are entitled for TDS deducted in the name of merged companies.
When you are in such a situation file your income tax return and take credit of TDS deducted in the name of merged companies; yes definitely you will get the demand notice from the department due to non matching of TDS amount with form 26AS U/S 143(1); in response to such notice approach you jurisdictional AO for deletion of demand along with full documentation. Mind that AO initially will say that he dont have jurisdiction and you have to file rectification but you will get you demand deleted form there only.
25 January 2017
Will appreciate if someone can help me on - system of merger of PAN and on merger, credit will be reflected in Form 26AS of the amalgamated company.
CAclubindia
