Gaurav (Student) (28 Points)
21 May 2013There is a Co. ABC and another company XYZ. ABC bought XYZ by way of slump sale on 1st Aug say 2012 but w.e.f 1st Apr 2012. In this case what about the statutory dedcutions made by XYZ from Apr-12 to July-12 (like TDS, PF, ESI). Will ABC have to get those changed in its name or it doesn't need to be changed.
Sanyam Jain
(Blogger)
(237 Points)
Replied 21 May 2013
all the assets and liabilities get transferred under slump sale, thus new company is forced to get all statutory deductions on its name.
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