Tds claimant

This query is : Resolved

Ravinder Grover (Querist)
Follow

09 August 2015 Suppose if a company 'A' books provision for Rs. 1 lac as a professional fees for the year 2014-2015 and deducted TDS@10 for a person Firm 'B', now the person Firm 'B' after 31st March 2015 convert itself into a Private Company and raised the invoice of Rs. 1 lac to company 'A' , person 'B' can do that because service tax provisions give times to raise the invoice within 30 days from the date of completion of service, service completed in April 2015 invoice raised in May 2015' now the question rise for claim the TDS amount' who will claim the TDS amount ' whether company 'B' or Firm 'B' since firm is not in existence after 31st March, 2015 and company is not in existence before 31st March 2015Please support your answer with valid reasoning.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

09 August 2015 01. why do you need valid reasoning when you yourself are giving the valid reasoning?
02. Firm B was in existence till 31/03/2015 and is liable to file the return of income for the income earned during the year 2014-15.

Ravinder Grover

Ravinder Grover (Expert)
Follow

09 August 2015 Firm 'B' has not received any income and has not raised any invoice and even i didn't asked what u said in 02 point.
Valid reasoning needed to justify who will claim the TDS.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

10 August 2015 01. Please understand that you are NOT asking any EXAMINATION question e.g CA, CS, ICWA etc. So please do not expect question centric answers. The answers are given taking into account the PRACTICAL applicability.OK? (Your views please)

02. If firm B has not BOOKED (and not received) any income, it can claim REFUND for the same by filing ITR. Please understand the importance of booking the income versus receiving income.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

rana andcompany

MAYUR

Tanuj Kumar Sharma

Aravind S

UPENDRAN YADAV

Subscribe Now

Tds claimant

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA