Overview
- What is TAN? - PAN In India, a Tax Deduction and Collection Account Number (TAN) is a 10 digit alphanumeric number issued to persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961.
- Requirement –Any entity or individual that is required to deduct taxes at source while making specific payments such as salary, rent etc need to first obtain TAN number.Â
- TDS/ TCS- The number is used in all TDS/TCS returns, TDS/TCS payment challans and all TDS/TCS Certificates
- Validity- A TAN is issued with lifetime validity and doesn’t need to be renewed.Â
- Penalty- If an assessee fails to obtain or quote TAN will have to pay a penalty of Rs. 10,000/-
- Issuance of TDS Certificates: TDS Certificates must be issued by individuals or entities deducting or collecting tax at source
Packages
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Steps Involved
Step 1: Receive Documents
Step 2: Application Drafting
Step 3: Review and Changes
Step 4: Obtain TAN Card
Documents Required:
Legal document
Passport size photo
Address proof of registered office
PAN of the company
TAN Application Form