Guidance on Claiming TDS Refund Post Merger

[Ramanathan Seshan]

Dear Experts,

Company A was merged with Company B in the financial year 2020-21, with Company B being the surviving entity. We had duly informed the banks about the merger and requested them to update their records accordingly. Despite this, the bank has continued to deposit TDS under Section 194A in the name of Company A for FY 2021-22 and subsequent years, up to the present date.

We have approached the bank multiple times, requesting them to revise their TDS returns, but they have not taken any action. Additionally, no assessments have been initiated for Company A for any of these years.

Given the above, we seek your guidance on how the TDS amount can be claimed. Is it possible to submit a manual refund request to the Assessing Officer? While issuing refund for company B, the amount has been excluded.

Regards,

S Ram

AI Summary

Corporate Name Change Impacts Tax Deduction: Merger Complications Require Strategic Documentation and Refund Request Process A company experienced continued TDS deduction under its old name post-merger, despite informing banks about the corporate restructuring. The surviving entity seeks guidance on claiming the TDS refund. Recommended steps include documenting the merger, submitting a manual refund request to the Assessing Officer with supporting documents, filing a grievance on the income tax portal, and potentially pursuing legal options if unresolved.