TAN stands for Tax Deduction and Collection Account Number, a unique identifier assigned to entities responsible for deducting or collecting tax at the source.
Let's Chat
Hotline: +91 8180992345
Get Your Free Tax Advisor Today and Save 10% on Your First Session Get Started
Let's Chat
TAN registration is the process of obtaining a Tax Deduction and Collection Account Number (TAN), a 10-digit alphanumeric code issued by tax authorities. It is mandatory for entities responsible for deducting or collecting taxes at the source. TAN is crucial for transactions subject to TDS (Tax Deducted at Source) or TCS (Tax Collected at Source), and it ensures proper tax compliance and transparent financial reporting. The application is submitted to the tax department, and TAN is linked to the entity's Permanent Account Number (PAN). Non-compliance may result in penalties.
TAN stands for Tax Deduction and Collection Account Number, a unique identifier assigned to entities responsible for deducting or collecting tax at the source.
Entities making payments subject to Tax Deducted at Source (TDS) or collecting Tax Collected at Source (TCS) are required to obtain TAN.
You can apply for TAN by filling out the TAN application form available on the official tax department website and submitting it with the required documents.
Commonly required documents include proof of identity, address, business registration documents, and PAN of the entity.
Yes, TAN registration is mandatory for entities involved in specified transactions subject to TDS or TCS.
Transactions such as salary payments, interest payments, and transactions subject to TCS require TAN for proper tax deduction and collection.
In many countries, including India, you can check the status of your TAN application online through the tax department's official website.
Yes, TAN is different from PAN. TAN is specific to tax deduction and collection, while PAN is a broader identifier for individuals and entities for various financial transactions.
Generally, separate TANs are required for each business or entity involved in transactions subject to TDS or TCS.
TAN does not expire, but it is crucial to keep the information updated and comply with any changes in the entity's details.
Yes, TAN is often linked with the Permanent Account Number (PAN) of the entity.
Failure to obtain TAN when required can lead to penalties and legal consequences for non-compliance with tax laws.
At Taxperts Associates, our seasoned tax consultants bring unparalleled expertise to guide you through intricate tax landscapes. With a commitment to precision and personalized service, we empower clients to navigate financial complexities with confidence
