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

TDS credit mismatch due to post merger PAN usage can be remedied by AO credit transfer or portal grievance.
TDS deposited in the PAN of an amalgamated transferor can be remedied by documenting the merger (NCLT order, ROC filings, board resolutions, PAN surrender and bank correspondence) and submitting a manual application to the jurisdictional Assessing Officer requesting credit or refund transfer, with TDS certificates, proof of income inclusion in the transferee's return, and an affidavit/CA certificate. If the deductor will not revise returns, file an e Nivaran grievance and consider issuing a legal notice to the bank or pursuing judicial relief; do not claim the TDS in the dissolved company's return or in the transferee's return without AO approval or Form 26AS credit.