ABC Ltd. merged with XYZ Ltd. ason Jun-09 (new name for ABC is now XYZ Ltd.)
ABC Ltd. had recd. Nil TDS deduction certificates from its contractor in the month of apr-09 (in annexure name is given ABC Ltd.)
in this case... 1) Is this Nil TDS deduction certificate will applicable for whole F.Y.09/10 to XYZ Ltd. also? 2) Or XYZ Ltd. have to take new certificate.
20 February 2010
At the time of merger of two companies, the TDS certificate issued in the name of ABC Ltd. will be applicable to merged entity (i.e. XYZ Ltd.) if it has been approved by the High Court order while approving the policy as submitted to comply the provisions of the Companies Act, 1956.
For clamining the benefit of TDS deduction certificate, it specify the period for which it would be eligible or valid. So, for applicability of TDS deduction certificate you have to look for the period which is mentioned on it.
CAclubindia
