TAN Registration

TAN registration is an essential service for individuals, companies, and societies who are liable for tax deductions or collections while making payments and issuing TDS certificates. It is a mandatory requirement imposed by the Income Tax Department to ensure compliance with tax laws. TAN, which stands for Tax Deduction and Collection Account Number, is a unique 10-digit alphanumeric code assigned to the assessee. When deducting or collecting tax, as well as issuing TDS certificates, it is crucial to quote the TAN number accurately.

0.00

8

Time Required

10 – 20 Days

Validity

No validity period and remains valid until surrendered

Documents Required

1. Copy of PAN card
2. Certificate of incorporation (for companies)
3. Partnership deed (for partnerships)

Key Features

1. Allocation of a 10-digit alphanumeric TAN number within 10-20 days of application in Form 49B, accompanied by supporting documents.
2. Mandatory for individuals, companies, and societies eligible for tax deduction and collection at the source.
3. TAN number has no validity period and remains valid until surrendered.
4. Quarterly filing of TDS returns, disclosing necessary details of the assesses, before the 15th day following each quarter.
5. Tax deductions must be deposited with the government within 7 days of making the payment or booking the entry.

Features of the Service:

  • Allocation of a 10-digit alphanumeric TAN number within 10-20 days of application in Form 49B, accompanied by supporting documents.
  • Mandatory for individuals, companies, and societies eligible for tax deduction and collection at the source.
  • TAN number has no validity period and remains valid until surrendered.
  • Quarterly filing of TDS returns, disclosing necessary details of the assessee, before the 15th day following each quarter.
  • Tax deductions must be deposited with the government within 7 days of making the payment or booking the entry.

TAN registration is an essential service for individuals, companies, and societies who are liable for tax deductions or collections while making payments and issuing TDS certificates. It is a mandatory requirement imposed by the Income Tax Department to ensure compliance with tax laws. TAN, which stands for Tax Deduction and Collection Account Number, is a unique 10-digit alphanumeric code assigned to the assesses. When deducting or collecting tax, as well as issuing TDS certificates, it is crucial to quote the TAN number accurately.

TAN registration serves multiple purposes. Firstly, it enables eligible assesses to deduct or collect tax at the source as per the provisions of the Income Tax Act. Secondly, it ensures proper record-keeping and tracking of tax deductions and collections. Finally, it facilitates the filing of TDS returns on a quarterly basis, where all necessary details of the assessee for whom tax deduction or collection is made must be disclosed.

Failure to comply with TAN registration requirements can result in penalties and legal consequences. Non-compliance may lead to disallowance of expenses, fines, and potential prosecution. It is, therefore, crucial for individuals and entities to adhere to TAN registration regulations to ensure legal and smooth tax operations.

In specific scenarios, TAN registration becomes necessary. For instance, if an individual purchases a property from an NRI or resident with a value exceeding ₹50,00,000, TDS must be deducted while making the payment, and TAN registration is mandatory. This requirement ensures transparency and accountability in high-value transactions involving property transfers.

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