10 May 2012
I HAVE A QUERY REGARDING THE FOLLOWING CASE..
ONE OF THE PARTNERSHIP FIRM OF US DISSOLVED IN 2002 BUT WE DID NOT SURRENDER OUR PAN BY MISTAKE. LATER ON, ONE OF THE PARTNER MADE A PROPRIETORSHIP FIRM WITH THE SAME NAME OF HIS INDIVIDUAL PAN NO.NOW THE PROBLEM IS: THE TDS OF PROPRIETORSHIP FIRM WAS DEDUCTED WITH BOTH PAN NO SINCE 2002 AND TDS CLAIMED WAS ALSO RECEIVED. RECENTLY INCOME TAX DEPARTMENT KNOW THE FACT THAT THE TDS OF PARTNERSHIP FIRM WAS CLAIMED UNDER PROPRIETORSHIP FIRM AND SENT THE NOTICE. WHAT WILL BE THE SOLUTION AND IF DEMAND ARISES WHAT WILL BE THE INTEREST RATE......
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