What is a TAN number in India?

Tax Deduction Account Number or Tax Collection Account Number is a 10-digit alpha- numeric number issued by the Income-tax Department (we will refer to it as TAN). TAN is to be obtained by all persons who are responsible for deducting tax at source (TDS) or who are required to collect tax at source (TCS).

What is TAN number example?

TAN structure is as follows: AAAA99999A: First four characters are letters, next 5 numerals, last character letter. Each tax deductor is uniquely identified by his TAN.

What is TAN stands for?

Tax Deduction and Collection Account Number
Tax Deduction and Collection Account Number – TAN TAN stands for Tax Deduction and Collection Account Number. It is a ten digit alphanumeric number thats allotted to those who are supposed to deduct tax at source or TDS.

What is TAN for NRI?

TAN No. is not required in case the property is purchased from a Resident Indian but is mandatory in case the property is purchased from a Non Resident Indian. TAN No. stands for Tax Deduction and Collection Account No. and is different from a PAN No.

Is TAN and GST same?

TAN full form in GST is (Tax Deduction and Collection Account Number) which is a 10 digit alphanumeric code that shall be obtained by the person who is supposed to collect or deduct tax. For business deducting tax at source, it is important for them to obtain GST TAN as it needs to be mentioned in TDS or TCS return.

Why is TAN required?

Why is TAN Required? TAN is required by all individuals because without it Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) returns are not accepted by TIN facilitation centres. Banks to do not accept the challans for TDS/TCS payments if TAN is not quoted.

Is TAN number same as PAN?

While TAN is a number allocated to tax-deductors, PAN or Permanent Account Number is allotted to taxpayers. PAN is also a 10-digit identity number mandated by the Income Tax Department for any individual who carries out financial transactions or pays the Income Tax.

Why is TAN number required?

Why is it necessary to have TAN? Ans. TAN is required to be quoted in all TDS/TCS returns, all TDS/TCS payment challans and all TDS/TCS certificates to be issued. TDS/TCS returns will not be received if TAN is not quoted and challans for TDS/TCS payments will not be accepted by banks.

Is GST and TAN number same?

While PAN and TAN are issued by the Income Tax Department, TIN was issued by the commercial tax department of the concerned state. GSTIN being a national concept is issued by the GSTN (GST Network) for all the businesses across India. PAN and TAN have 10 digits. TIN has 11 digits, while GSTIN has 15 digits.

How can I get my TAN no?

How to Know TAN?

1. Visit www.incometaxindiaefiling.gov.in.
2. Click on ‘Know Your TAN’
3. Select ‘Name’ or ‘TAN’ under the ‘TAN Search’ option.
4. Select ‘Category of Deductor’
5. Select ‘State’
6. Provide ‘Name’ or ‘TAN’ depending on the option selected under ‘TAN Search’
7. Provide the registered mobile number.
8. Click on ‘Continue’

How do you apply a TAN?

TAN/TDS>Apply Online

1. Step – I. Visit https://tin.tin.nsdl.com/tan/index.html and select “Online Application for TAN (Form 49B)” or click here.
2. Step – II. Select Category of Deductors from the drop down menu and click on “Select Button”;
3. Step – III.
4. Step – IV.
5. Step – V.
6. Step – V.
7. Step – VI.
8. Step – VII.

What is TAN no in TDS?

About TAN. Tax Deduction Account Number or Tax Collection Account Number is a 10 -digit alpha-numeric number issued by the Income-tax Department. TAN is to be obtained by all persons who are responsible for deducting tax at source (TDS) or who are required to collect tax at source (TCS).

Why TAN NO is required?

Who is applicable for TAN No?

Ans. The provisions of section 203A of the Income-tax Act require all persons who deduct or collect tax at source to apply for the allotment of a TAN. The section also makes it mandatory for TAN to be quoted in all TDS/TCS returns, all TDS/TCS payment challans and all TDS/TCS certificates to be issued.

Where is TAN used?

In trigonometry, sin cos and tan values are the primary functions we consider while solving trigonometric problems. These trigonometry values are used to measure the angles and sides of a right-angle triangle. Apart from sine, cosine and tangent values, the other three major values are cotangent, secant and cosecant.

Why is TAN needed?

What is TAN and its purpose?

The primary purpose of the tax deduction and collection account number, commonly known as TAN, is related to deduction or collection of tax at source. Under section 203A of the income tax act, obtaining TAN is compulsory for individuals or businesses mandated by the government to deduct or collect tax.

Is TAN and PAN same?

Is TAN number mandatory?

Ans. TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. It is compulsory to quote TAN in TDS/TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan and TDS/TCS certificates.

Why is tan required?

What is the benefit of tan number?

What are the Benefits of TAN? You must quote your TAN Number in your TDS or TCS return, payment, certificates, Annual Information Return and other documents; else you could incur penalties. TAN is used for deductions like salary, interest, or dividends and should be quoted in returns, challans and certificates.

What is the benefit of TAN number?

Why is TAN necessary?

Why we apply for TAN?

Why to apply for TAN? The provisions of section 203A of the Income-tax Act require all persons who deduct or collect tax at source to apply for the allotment of a TAN. The section also makes it mandatory for TAN to be quoted in all TDS/TCS returns, all TDS/TCS payment challans and all TDS/TCS certificates to be issued.

Is TAN mandatory?

What is a TAN number?

TAN stands for tax deduction and collection account number. It is a unique 10 digit alphanumeric number allotted by the income tax department (ITD) of India. TAN number is required to be obtained by all the persons who are responsible for deducting or collecting the tax at source.

What is tan tax in India?

Such a tax is deducted from the amount paid or credited to a resident in a year in respect of the contractual work, brokerage, professional fees or commission (this does not include insurance commission as specified in section 194-D. Provided the total amount paid is more than Rs 50 Lakhs in a year. Why is TAN Required?

How to apply for Tan in India?

The applicant must bear in mind that the TAN Application can be made on Form 49B only, you cannot type out the application request on a plain piece of paper. The application can however be typed on Form 49B, the typing should be in capital letters. While submitting your application for the allotment of TAN, you need not submit any documents.

What is tan (tax deduction account number)?

Tax Deduction Account Number or Tax Collection Account Number is a 10 -digit alpha-numeric number issued by the Income-tax Department. TAN is to be obtained by all persons who are responsible for deducting tax at source (TDS) or who are required to collect tax at source (TCS).