Transfer of tds credit from one pan to another

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.

Replies (9)
never heard of such provisions... i have completely replaced new pan no. instead of old pan and havent recvd any demand notice from tds cpc... so you should also ask your client to revise and correct pan in tds return as there is no such prov. to trf tds credit from one pan to another.

This is a new provision. If the TDS is revised for change in PAN no. and the change in letters/numericss exceeds 3 then the company is liable to deduct 20%. Otherwise the demand will arise as short deduction for the balance portion.

i.e, if TDS revised for a PAN egs ABCDE1234F to ABCCG1256L, here difference is for 3 letters and 2 numerics total 5. and the deduction is 10% say 1000(10% of 10000). Then the demand will arise for Rs. 1,000 (i.e, (20%*10000)- 1000)
 

Is there any other way to transfer TDS credit from one PAN to another.

can you quote circular no. or notification no. so that i can read it.... ... .... no prov. to trf tds credit from one pan to another as far as i know... i can see one more option that your client should delete previous entry and then make new entry with correct pan... this way the prov. as you said above will also not be violated.

As per my view there are two options are available.

1.Ask your TDS deductor to file revised TDS return with your new PAN.

2.Approach your concerned Assessing Officer 

@ jemin.. yes delete option is not available now.. you will have to put zero in amt pppaid and tds column of old pan and then make fresh entry with new pan.

I think now its possible to rectify PAN online right??. Will there be any problem for that??

Check this link from TRACES

https://contents.tdscpc.gov.in/docs/e-Tutorial-FilingCorrection(wds).pdf

or

https://contents.tdscpc.gov.in/en/filing-correction-etutorial(wds).H T M L

yes correction of pan is available online but only through dsc... but as you say about that prov. of pan correction, if its true then you wont be able to correct pan. and addition of entry is not possible through online correction.

Thankyou all for the reply.

I think the best option available today is to delete the last wrong entry and make a new entry with correct PAN details. this will update your pan and TDS amount will be trf to your new PAN.

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