TAN (Tax Deduction and Collection Number) is a necessary requirement for all legal business entities other than salaried individuals to obtain TAN and deduct tax at source for transactions conducted in the course of business. TAN is a 10 digit alphanumeric number ensures the responsibility of tax payment is diversified.
The person who deducting the taxes at source is need to deposit the tax deducted to the credit of Central Govt – quoting the TAN number. Individuals who are getting salaries are no need to obtain TAN.
All Assessee liable to deduct TDS are need to apply for the TAN Number and should quote this no. in every TDS Returns, Payments, and any other communication regarding this TDS with Income Tax Dept.
To get TAN, application should be in allotment of TAN in 49B Form along with documents supported. On Application Based , the TAN will be allotted to the entities and should quote TAN in every TDS / TCS returns, TDS / TCS payment challans and every TDS / TCS Certificates.
JS Tax Consultant will help you to get your TAN registration.
Features of TAN
- TAN – TAN is a 10 digit alpha-numeric code given by the Income Tax Department for specified persons who are responsible in deducting or/and collecting tax at source.
- Validity – Once the TAN is issued to, it will be valid for lifetime.
- TDS Payments – TAN should be quoted in TDS deposits in the corresponding bank.