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Umesh Khanna (CEO)     25 August 2012

Tds deducted interest time barred?

 

Respected Sirs,

Am a supplier of paper to publishers , one of my clients a pvt. ltd. company faked a internal family dispute and moved their premises and faked as if the company was liquidated and stopped payments to all paper suppliers inbetween period 2006-2008, . we had issued Debit notes of interest for late payments in years 2004-05,2005-06, they issued us TDS certificates 16 A . Now after more than 6 years of no transactions, is the amount of interest payable to us time bound when the TDS certificate has been issued and TDS deposited? and how can we recover the amounts.? Regards & Thanks .



Learning

 2 Replies

R RAJAGOPALAN (ADVOCATE)     28 August 2012

Your queries:1.  Is the amount of interest payable to us time bound when the TDS

certificate has been issued and TDS deposited?

2. and how can we recover the amounts.? 

Reply: That they have issued you TDS certificates for deduction of interest paid/payable to you, evidences that they did credit your accounts in their books with the interest accrued. Therefore even as per their books, amounts were payable to you. You may argue on these lines.

Umesh Khanna (CEO)     28 August 2012

Respected Sir ,

A small request ,the last transcation occured 6 years back , will it be considered time barred , its a pvt ltd company or can i file up a winding up?

Regarda & thanks 

 

Umesh


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