How It Works
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The term TAN refers to the Tax Deduction and Collection Account Number. Each individual charged with calculating or collecting the tax must get a TAN number. Any TDS/TCS return, including any e-TDS/TCS returns, TDS/TCS payment challans, and TDS/TCS certificates, must contain the TAN.
Decoding the TAN number
India’s Income Tax Department (ITD) has issued a unique 10-digit alphanumeric number known as a TAN.
- The first three characters show the State or city where the TAN was issued.
- The fourth alphabet is the first letter of the TAN holder’s name, which can be a person, business, or other entity.
- The following five characters are numbers.
- A letter makes up the final character.
Benefits of TAN
- All deductors were required to repair the authenticated login area from this TAN.
- All deductors received a communication from the Income Tax Department regarding the TDS and even the TCS with the aid of all data connected to updating all sufficient details of TAN.
- Every deductor has access to the ability to download the most recent Input File [FVU] for any corrective work, and they can also check the status of every challan online.
- A copy of the statement that details the TDS status should be sent to every deductor.
- Section 200A of the law states that the TAN owner must agree to the TDS. Downloading TDS should be a simple process for all deductors.
- TDS returns can be conveniently uploaded electronically by the deductor.
Who is required to register for TAN?
- TANs must be obtained by anyone obligated to collect or deduct tax at source.
- However, as they are exempt from obtaining TAN, those who must deduct taxes under Section 194-IA may use PAN instead of TAN.
- A person who must deduct taxes following section 194-IB/194M is exempt from obtaining a TAN.
- Section 194-IB states that while paying rent for any land or building or both to a resident person, any individual or HUF must deduct tax at 5%.
TAN registration procedure
The TAN registration process can be finished offline or online.
- To obtain TAN, visit the Tax Information Network (TIN) webpage of the National Securities Depository Ltd (NSDL)
- From the drop-down menu, Select Service – Drop-down Menu – TAN – Apply online – New TAN.
- Choose New TAN, fill up all the required fields, and submit.
- After selecting the payment option, you will receive an acknowledgement screen with the payment information. Provide the necessary details.
- If payment is made offline, NSDL’s office address should receive the duly signed acceptance receipt and a demand draught (DD) or challan made out to NSDL-TIN.
- Before submitting it to the NSDL office, download Form 49B from the NSDL website, complete it with the required details and attach a DD or challan with the NSDL-TIN.
- The applicant’s name and acknowledgement number must be written on the reverse of the DD/Cheque.
- A confirmation of the successful e-payment will be displayed.
- As indicated under document submission, the applicant must save, print, and send the acknowledgement to NSDL.
- To request TAN funds, any Tax Information Network Facilitation Center must receive a Form 49B (duplicate) application (TIN-FC). With the NSDL-TIN website, find the TIN-FC addresses.
- To request the assignment of a Tax Deduction Account Number, a corporation that has yet to be incorporated under the Companies Act of 2013 may submit Form No. INC-32.
Documents required for TAN registration
- A passport-sized photo
- Adhaar card as address verification
- A properly completed and signed application
- The authorised partner’s passport-sized photo
- Copy of each partner’s ID.
- Documentation proving the current office’s address.
- Most recent partnership deed
- The company’s most recent three-month account statement
- Business registration certificate
- One partner’s KYC information includes two passport-sized pictures, official ID evidence, and address confirmation.
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