Tds claim u/s 154

This query is : Resolved

Padmanabha Rao (Querist)
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06 November 2012 In a firm there are two partners. One of the partner is Managing Director and looking after all the contract works. The deductor has been issued TDS Certificate in the name of Firm and as well as in the name of Managing Director of the Firm for works executed for Firm. The firm has filed ROI and claimed total TDS by admitting all the Gross receipts both i.e in the name of firm and in the name of MD. But IT Dept., has given credit for TDS certificates which are in the name of firm only. But all the Gross receipts are shown and written in books of account of firm only. MD has not claimed in his individual return the gross receipts pertain to works done on behalf of Firm. Can it be claimed the refund in the firm by filing application u/s 154 for which TDS certificates issued in the name of MD of the firm. Pl. clarify
Thanks

CA.Sourabh Sethia

CA.Sourabh Sethia (Expert)
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07 November 2012 the TDS certificate which is issued in the name of the MD contains the PAN of which person i.e. PAN of the Firm OR
PAN of the MD

if it contains PAN of the Firm you can file rectification U/s 154 directly

but if it contains PAN of MD
you need to ask the issuer of Certificate to revise their TDS return and then issue the fresh TDS certificate and then you can file rectification or revision.

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