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Query asked by R.Team on April 4, 2020

Re: Procedural questions- Amalgamation – Clarification is desired from CBDT .

Consider a case where appeals pertaining to ACo being an amalgamating company are proposed to be settled under VSV by amalgamated company. In relation thereto clarification may be required as to in whose name and PAN declaration is to be filed, who could be signatory to sign the declaration, payment of disputed tax is made in whose name, how credit for prepaid taxes of amalgamating company be considered while computing disputed tax, etc.?

Answered by

Declaration is to be filed by Amalgamated company with its PAN. as a successor to amalgamating entity.  Declaration to be signed by MD/ Director of amalgamated entity.  Payment to be made in name of amalgamated entity as a successor to amalgamating entity. Sec 159 of the IT Act will be applicable. The said issues may be clarified by CBDT in coming FAQs.  

 


 

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