TaxTMI 
TaxTMI 
Merger - Return u/s 170A - Assistance in filing Returns
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....erger - Return u/s 170A - Assistance in filing Returns<br> Query (Issue) Started By: - Vivek Dated:- 8-8-2025 Last Reply Date:- 19-12-2025 Income Tax<br>Got 2 Replies<br>Income Tax<br>Dear All, Company A (Transferee) and Company B (Transferor) are merged effective 01-10-2022 as per NCLT order. Now I am filing modified return of Company A for AY 23-24 by taking figures of Company from 01-10-22 ti....
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....ll 31-03-2023. Now Company B has balance in MAT credit and advance tax payments. How to carry forward these in the modified ITR. Please guide on specific fields where we can enter this information in the ITR. Further, company has huge profits from period 01-04-22 till 30-09-22 and post this period there is loss, whereas huge advance tax payments are made in the Q3 & Q4 (i.e after cut off date), ....
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....so how to account these in modified return. Reply By Ryan Vaz: The Reply: ? Advance tax paid by Company B (even after 01-10-2022) must be claimed in Company A's ITR ? MAT credit of Company B can be carried forward by Company A, subject to conditions ? Income/Loss must be split strictly up to effective date (not based on payment dates of advance tax) ? Proper disclosure must be made in Schedul....
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....e IT, Schedule MATC, and Schedule Part A - General Advance Tax Paid by Company B - How to Claim in Company A's Modified ITR Legal Position Under Section 170(2) and Rule 37BA(2): Any advance tax paid by the predecessor is deemed to be paid by the successor, once succession takes place. ? Even if advance tax is paid in Q3 / Q4 (after 01-10-2022), credit belongs to Company A, since Company B cea....
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....ses to exist. Reply By Ryan Vaz: The Reply: What If Company B Has Already Filed ITR? Scenario Action ITR filed including full year income Revise Company B's ITR u/s 139(5) (upto 30-09-2023) Company B PAN inoperative File modified return of Company A with correct bifurcation Refund mismatch Expect CPC clarification / 154 Recommended Documentation (Keep Ready) * NCLT order (cer....
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....tified copy) * Computation split (pre & post merger) * MAT credit workings * Advance tax challans of Company B * Auditor certificate (recommended though not mandatory) <br> Discussion Forum - Knowledge Sharing ....