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A TAN (Tax Deduction and Collection Account Number) is a ten digit alphanumeric number that has been issued by the Income Tax department. Section 203A, the Income Tax Act of 1961, requires that all TDS and TCS returns include TAN.
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What Is TAN? A TAN (Tax Deduction and Collection Account Number) is a ten digit alphanumeric number that has been issued by the Income Tax department. Section 203A, the Income Tax Act of 1961, requires that all TDS and TCS returns include TAN. Who should apply for TAN? Every person who is responsible for Tax Collection at Source or Tax Deduction at Source should obtain TAN. TCS/TCS transactions must include TAN. This includes any e-TCS/TCS return, TDS/TCS payments challan, and TDS/TCS certificates. Important importance of TAN Number If a TAN is not requested, it will cause problems in filing tax returns. A penalty of Rs. 10,000 will be imposed if the TAN number is not quoted in documents or returns. The following documents should contain the TAN number: TCS/returns for TDS or TCS statements. Challans for TDS and TCS payments TCS and TDS certificates must be submitted A wide range of IT-related forms can be collected or submitted.
Structure of TAN The unique structure of TAN is a ten-digit alphanumeric numbers. The structure of TAN can be viewed here: The first four digits represent letters. The first three letters indicate the jurisdiction where the TAN was issued. The fourth letter is initial of the entity or individual applying for the TAN. The next five digits of the number are numerical. The numbers in the middle are unique numbers generated automatically by the system. The last digit represents a letter at end. The last one letter is unique system generated letter. TAN Application Process Two ways to apply for a TAN are available: Offline To apply for TAN, the applicant must fill out and submit Form 49B (Form for application for allotment tax deduction and collection account numbers) to any TIN Facilitation Center (TINFC) in Protean along with the applicable fees. The NSDL Website also has a TAN application. Fill it out and
send it along with the required fees to the TIN–FC. If you are applying for a TIN in person, you don't need to provide any supporting documents. Online Applicants can apply online to TAN via the NSDL Website. The instructions should be read and filled out before submitting the application. The acknowledgement number will be sent to applicants after they submit the online form. The acknowledgement number must be printed and sent to the NSDL Pune office.They can either pay online, or by demand draft or cheque. After receiving the TAN application from the IT department, they will verify it and issue the TAN to the applicants to NSDL. The NSDL will either send the TAN details by email to the address of the applicant provided on Form 49B, or they will mail the details to that address. Application fees for TAN The application fee for TAN is Rs.65, which includes Goods and Service Tax. TAN Search The efiling portal allows taxpayers to view the TAN for the tax collector and deductor. Click on the "Know Your PAN Details" option in the homepage's "Quick Links" section. Select the category they wish to deductor, then enter the name of the taxpayer, the state and the mobile number of the taxpayer and then click the 'Continue’ button. The taxpayers will need to verify with OTP. A list of records matching the name of the deductor will then be displayed. Clicking on the name of the deductor will display the basic and AO details. For more information Visit our website- Corporate law firm in India
