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15 May 2008 XYZ Ltd a listed company merging with PQR Ltd..

The payment has been made by XYZ Ltd to Non-residents after applying TDS provisions and tax has been deducted thereon.

Now after merger PQR Ltd will continue and XYZ ltd will be raising debit note to PQR ltd.

Thus whether tax has to be deducted again at the time of crediting XYZ Ltd in the books of PQR Ltd ?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
05 April 2012 TDS will be applicable only when any payment covered by TDS provisions is made.
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