Tds claimant

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Ravinder Grover (Querist)
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09 August 2015 Suppose if a company 'A' books provision for Rs. 1 lac as a professional fees for the year 2014-2015 and deducted TDS@10 for a person Firm 'B', now the person Firm 'B' after 31st March 2015 convert itself into a Private Company and raised the invoice of Rs. 1 lac to company 'A' , person 'B' can do that because service tax provisions give times to raise the invoice within 30 days from the date of completion of service, service completed in April 2015 invoice raised in May 2015' now the question rise for claim the TDS amount' who will claim the TDS amount ' whether company 'B' or Firm 'B' since firm is not in existence after 31st March, 2015 and company is not in existence before 31st March 2015Please support your answer with valid reasoning.

Amol S Joglekar

Amol S Joglekar (Expert)
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09 August 2015 01. why do you need valid reasoning when you yourself are giving the valid reasoning?
02. Firm B was in existence till 31/03/2015 and is liable to file the return of income for the income earned during the year 2014-15.

Ravinder Grover

Ravinder Grover (Expert)
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09 August 2015 Firm 'B' has not received any income and has not raised any invoice and even i didn't asked what u said in 02 point.
Valid reasoning needed to justify who will claim the TDS.

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Amol S Joglekar

Amol S Joglekar (Expert)
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10 August 2015 01. Please understand that you are NOT asking any EXAMINATION question e.g CA, CS, ICWA etc. So please do not expect question centric answers. The answers are given taking into account the PRACTICAL applicability.OK? (Your views please)

02. If firm B has not BOOKED (and not received) any income, it can claim REFUND for the same by filing ITR. Please understand the importance of booking the income versus receiving income.