Non Payments of TDS - A.Y 2009-10

This query is : Resolved

MalaMurugan (Querist)
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27 March 2009 Please advise me regarding the Non payments of TDs, We were partnership firm and it is taken over by a Private limited company in the A.Y 2008-09 after taken over we didn't accounted any transaction in partnership firm so vendor payments and all payments made in Private limited company so we did not file any tds return for the partnership firm. At present form Income tax Department they send us a letter regarding the Non payment of tds in partnership firm what can I do and what is procedure to solve the problem

Tushar Yerawar

Tushar Yerawar (Expert)
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28 March 2009 If partnership firm is taken over by Pvt. ltd co then firm should ceased to exit and all the account balances should be merged in the books of co. effective from the take of take over.

Also, all the registrationo of partnership firm should be surrendered and partnership firm should be dissolved.

Deepak Goel

Deepak Goel (Expert)
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31 March 2009 You should intimate income tax department as well as other department for merging partnership firm into a pvt. ltd. company and also surrender all registration no. of the firm

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