Dear Experts,
We have a partnership firm. The First PAN allotted to us is of a trust (4th letter shows 'T'). Now we have applied for a new PAN and received the New PAN this year.
We have not filed Income tax return for AY 2013-14 as it was a trust PAN at that time. We got TDS credit in our old PAN for AY 2013-14 and AY 2014-15. We have filed IT return for AY 2014-15 with New PAN.
My query is whether we can transfer the TDS credit from our old PAN to New PAN so that we can file return for AY 2013-14 and also revise the return for AY 2014-15 after adding these TDS credits to New PAN.
We have not surrendered the old PAN as the TDS credit is still there. We know that keeping more than one PAN is punishable. We also thought about asking clients to revise TDS returns, but the new provisions came that if we are revising TDS for PAN rectification the change in letters/words cannot exceed 3, otherwise demand will arise to the party who revise it.
Please help.
CAclubindia
