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Claim of Tax Deducted at Source



one of my freind has a partnership firm, he is transferring whole business of firm to a new incorporated company having same name as of partnership firm.

all service invoices are raised in the name of company but TDS deducted by the parties in the name of firm.

now the total turnover of firm is nil but there is heavy TDS as per 26AS.


My doubt is that,

Can he claim whol TDS in the name of company while filing income tax return also he is declaring turnover in company.

Rahul Rai


As per income tax act seperate Returns to be filed for Firm and company.

File returns for firm till date of its disolution and there after file return for company.


As per provisions in incometax losses can be carry forwarded by a company and even the tax credit.

So as per me you can claim the TDS in company. But first claim in returns of firm. and than carry forward in company name.