Tds has been made on the pan no of previous owner of concern
Querist : Anonymous
A proprietorship concern has been taken over by a pvt ltd company w.e.f. fist day of the financial year.
From that day all the operations and transaction were been made by the pvt ltd company, but due to lack of information about change in the status of concern (proprietorship to pvt ltd), some of the deductors had made TDS on the name of proprietor in that financial year.
At the time of return filling of the company, the TDS credit of both the PAN(company and proprietor) had been claimed. After processing the return of the company, Income tax department has raised the demand for the difference of tds claimed and actual tds showing in 26as of the company. The Income tax department had not given the TDS Credit in the PAN of Proprietor.
Note:- TDS Credit was not be claimed by proprietor, on transaction of company, in his Income Tax Return.
Pleas guide me how to solve the matter.
Querist : Anonymous
Querist : Anonymous
Deductors are not agreeing to do so. Please suggest the other way for that.
Can we approach to the department to give credit of TDS, made on the name of Proprietor, to Company, by submitting required documents(like Tds Certificates, Invoices raised by company and other docs).?
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