TAN Registration: TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number needed to be acquired by all individuals who are accountable for subtracting or gathering tax.
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TAN Registration
There are two types of TAN applications:
This application must be utilized when the deductor has never ever requested a TAN or does not have a TAN.
What is TAN?
Under Area 203 A of the Earnings Tax Act, 1961, it is obligatory to price quote Tax Reduction Account Number (TAN) allotted by the Earnings Tax Department (ITD) on all TDS returns.
Considering that last few years ITD has revised the structure of TAN. It is a distinct 10 digit alphanumeric code. Appropriately, they have provided TAN in this brand-new format to all existing TAN holders.
To facilitate deductors discover their brand-new TAN, ITD has actually now introduced a search center in their site ( www.incometaxindia.gov.in). Through this facility deductors can search on their name and old TAN to find the brand-new TAN. Deductors are encouraged to discover the brand-new TAN from this website prior to it is included in their e-TDS return file to prevent any hassle at the time of furnishing e-TDS return.
Documents to be submitted with TAN application
No documents are needed to be sent along with application for allotment of TAN. Nevertheless, for online application, the signed acknowledgement which is created after filling the type is to be forwarded to NSDL.
Who is a deductor?
A Deductor is a defined person who is eligible to deduct tax on specific types of payments being made by them as per the arrangements of the Earnings Tax Act, 1961.
What is TAN Registration Number?
TAN Registration Number is provided by TIN when TAN is signed up on TIN.
What are the kinds of TAN applications?
There are 2 types of TAN Applications:
Application for issuance of brand-new TAN (Kind 49 B)
- This application form should be utilized when deductor has never ever requested a TAN or does not have a TAN.
Type for modification or correction in TAN information for allocated TAN
- This application form must be utilized by deductors in case they desire a change or correction in data related to their TAN.
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How to get new TAN?
( Please click here for Fill TAN Application Online)
Application Treatment
- An applicant will fill Kind 49 B online and submit the form. Deductor might either make an online application through TIN (Tax Info Network) or send physical TAN application to any TIN-Facilitation Center (TIN-FC) of NSDL
- If there are any mistakes, correct and re-submit the kind
- Confirmation screen with information filled by the applicant will be displayed
- Candidate may either modify or validate the very same
Recommendation
- On verification, a recommendation screen will be displayed. The recommendation includes.
- A special 14- digit recommendation number
- Status of candidate
- Name of candidate
- Contact information (address, email and telephone number)
- Payment information
- Area for signature
- Candidate will conserve and print this recommendation
- Signature/ left thumb impression ought to only be within package offered in the recommendation. In case of candidates other than ‘People’, authorised signatory shall sign the recommendation and attach suitable seal or stamp
- Left hand thumb impression, if used, need to be testified by a Magistrate or a Notary Public or Gazetted Officer, under official seal and stamp
How can I track the status of my TAN application?
Applicants might track status of their TAN application utilizing 14- digit special Acknowledgment Number after 3 days of application utilizing the status track facility on TIN.
How is TAN issued?
Applications for Kind 49 B received by NSDL are digitized and forwarded to ITD. ITD will issue the TAN which will make love to NSDL online and NSDL will then release TAN letter to applicant.
Why is it needed to have TAN?
The provisions of Section 203 A of the Earnings Tax Act, 1961 require all individuals who subtract or gather tax at source to look for the allotment of TAN. The section likewise makes it obligatory to quote TAN in all TDS/ TCS/ Annual Info Returns, payment challans and certificates to be provided. Deductor can not submit TDS/ TCS declarations and deposit challans for TDS/ TCS payments in banks without TAN. Failure to look for TAN or not pricing estimate the exact same in the defined documents brings in a penalty of Rs. 10,000/-.
