Tax Deduction and Collection Account Number (TAN) is a unique 10-digit alphanumeric code that is required by entities that are responsible for deducting or collecting tax at source. In this article, we will answer some frequently asked questions on the TAN application. We will cover topics such as how to apply for TAN number, TAN registration number, TAN application, and tax deduction and collection account number.
TAN stands for Tax Deduction and Collection Account Number. It is a unique 10-digit alphanumeric code that is required by entities that are responsible for deducting or collecting tax at source.
Any entity or individual making tax deductions or collections at the source, including businesses, government agencies, and individuals, must apply for a TAN.
An application for allotment of TAN is to be filed in Form 49B in duplicate and submitted to any TIN Facilitation Centres (TIN-FC). Addresses of TIN-FCs can be obtained from NSDL-TIN website.
Yes, individuals responsible for deducting tax at the source, such as employers or freelancers, can apply for a TAN.
Yes, the Income Tax Department offers an online application facility for TAN. You can visit the official website and follow the guidelines to apply for a TAN online.
The following documents are required for TAN application:
Failure to apply for TAN or not quoting the same in the specified documents attracts a penalty of Rs. 10,000/-.
A TAN registration number is a unique identifier allotted to an applicant upon successful TAN registration. It serves as a reference for all tax-related activities associated with the entity or individual.
No, each entity or individual requires a separate TAN registration number. It is essential to obtain a distinct TAN for each branch or division involved in tax deduction or collection.
Yes, you can make corrections or update information in your TAN application by filing the relevant request through the official website.
A duplicate TAN is a TAN that has been inadvertently obtained by the same person who is responsible for deducting/collecting a tax and who already has a TAN allotted to him earlier. In other words, more than one TAN issued to a person is called a duplicate TAN. It is illegal to possess or use more than one TAN. Different branches/divisions of an entity may, however, have separate TAN.
Yes, a TAN can be surrendered or canceled if it is no longer required. You can apply for TAN cancellation through the designated authorities.
No, it is not necessary to apply for different TAN if a deductor has to deduct tax from different types of payments like salary, interest, dividend, commission, etc. The same TAN can be used for all types of payments.
Yes, it is mandatory to quote your TAN on all TDS/TCS returns, challans, and other documents related to tax deduction or collection.
Yes, it is mandatory to quote your TAN number on all TDS/TCS returns, challans, and other documents related to tax deduction or collection.
In conclusion, TAN application is a simple process that can be done online or offline. Entities that are responsible for deducting or collecting tax at source need to apply for TAN. The TAN number is valid for a lifetime and can be used for all types of payments. By following the guidelines and submitting the required documents, entities can easily obtain a TAN number.