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    TAN Application

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      TAN

      Tax Deduction Account Number Application

      Know about TAN

      TAN issued by the Income Tax Department. Tax Deduction Account Number or Tax collection Account Number is referred to as TAN. It is 10-digit alpha numeric number.

      In order to be eligible to deduct TDS, an assesses must apply for a TAN. They must also provide this number in all correspondence with the Income Tax Department regarding TDS, including TDS returns and payments.

      It is mandatory to mention TAN in TDS / TCS return (including any e-TDS / TCS return), any TDS / TCS payment challan and TDS/TCS certificates.

      Characteristics of TAN Registration
      • The Tax Department issues TAN, a 10-character alpha-numeric code, to those who are in the position of holding or collecting taxes at the source.
      • TAN is valid for lifetime.
      • TDS Payments: When depositing TDS in the authorized bank, the TAN must be mentioned.
      • Owners of proprietorships must get TANs and, when required, deduct taxes at the source.
      Frequently Asked Questions(FAQs)
      Tax deductions at the source are not necessary for salaried individuals. On the other hand, proprietorship owners have to deduct taxes at the source. A TAN must be obtained and tax paid at source for all other entities, including trusts, societies, limited companies, private limited companies, and LLPs.
      Any authorized TAN Facilitation Center may accept Form 49B applications, which must be submitted in order to get TAN.
      Depending on the transaction, tax deductions at source are made at different rates. The employee’s pay and the amount of tax they are required to pay are the basis for determining the TDS rate for salary. The type of transaction determines the tax rate. If the total rent for the year exceeds Rs. 1,80,000, 10% of the rent on the land, building, or furnishings would be deducted for TDS. View the full list of TDS rates.

      The dates on which quarterly TDS returns must be filed are July 15th, October 15th, January 15th, and May 15th. There would be a penalty of Rs. 200 per day, up to the total amount of TDS for the quarter, for any delay in filing your return.

      Monthly deposits of service tax payments are required from companies, societies, trusts, etc. Quarterly Service Tax payments are due from Partnership and Proprietary Firms.

      A penalty of either Rs. 5000 or Rs. 200 per day, whichever is higher, may be applied if tax registration is not obtained.