Whether Transferee company has to deduct tax while taking over liability from transferor company.The transferor company have not done TDS because its below limit for that company.But in Transferee company the said payee is already liable for TDS.
Gajanan Asha Vilas Badve (service) (47 Points)
17 June 2008Whether Transferee company has to deduct tax while taking over liability from transferor company.The transferor company have not done TDS because its below limit for that company.But in Transferee company the said payee is already liable for TDS.
DEEPAK KUMAR TIBREWALA
(profession)
(101 Points)
Replied 17 June 2008
yes the take over company i s liable to deduct TDS AS ALLTHE ASSETS AND LIAB TAKEN OVER BY THEM
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