tds queries

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JACOB BABOO (Querist)

15 November 2008 I have come across a problem. A sole proprietorship is converted into a company. after that all income and expenses are booked in the name of the company. But the company forgot to intimate it to their clients and they continued making payments in proprietor's name. Actually the income is booked in the name of the company. But the problem came when the client issued TDS certificates in the name of proprietor. They are not willing to change it.

Since the proprietor has no income since all income is booked can he claim refund for the tax deducted in his name.

My question is that can I claim refund for that amount with out showing the income in Proprietor's account since the income has been already booked by the company.

can he claim refund for the tax deducted since certificate is issued in the name of proprietor and not the company

Tax deducted at source has not been shown as an asset for the company since the certificate has been issued in the name of that proprietor

the proprietor is the managing director of the company cum major shareholder of the company

The payment was made in the name of the proprietor by cheque and cheque has been credited in his personal account

the problem is that the expenses are booked in the name of the company that is why the income cannot be claimed in the name of proprietor.

That is the issue