All those persons who are required to deduct tax at source or collect tax at source on behalf of Income Tax Department are required to apply for and obtain TAN.
Tax Deduction Collection Account Number (TAN) is a unique 10-digit number issued by the Income Tax Department of India to persons or entities responsible for deduction or collection of tax at source
TAN is mandatory for anyone who is required to deduct tax at source (TDS) or collect tax at source (TCS) for payments made to them under the Income Tax Act, 1961. It is a tax identification number used to process tax returns after the remittance of TDS
TAN allows the Department of Taxation to monitor the taxes deducted and collected by corporations and ensure compliance with tax laws. It is important for businesses and individuals to have a TAN if they are doing transactions that require deduction of TDS or TCS
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TAN is mandatory for entities deducting tax at source on payments such as salaries, rent, professional fees, interest, dividends, etc. It ensures proper identification of the deductor and facilitates TDS compliance.
TAN is required for collecting tax at source on specific transactions like sales of alcoholic liquor, scrap, and tendu leaves. TDS/TCS Returns: Entities with TAN have to full regular TDS/TCS returns with the Income Tax Department.
TAN is a unique identity for entities in their communication with the Income Tax Department. It helps in maintaining accurate records and facilitates correspondence between the taxpayer and the tax authorities.
TAN is linked to PAN which helps in monitoring transactions and ensuring the attribution of tax credits to the deductees.
In cases like the purchase or sale of immovable property, quoting the TAN of the deductor/collector may be mandatory.
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All those persons who are required to deduct tax at source or collect tax at source on behalf of Income Tax Department are required to apply for and obtain TAN.
As the name suggests, a One Person Company can be started with one director.ts, a One Person Company can be started with one director.
As the name suggests, a One Person Company can be started with one director.
As the name suggests, a One Person Company can be started with one director.
As the name suggests, a One Person Company can be started with one director.
As the name suggests, a One Person Company can be started with one director.
As the name suggests, a One Person Company can be started with one director.
What is TAN ?
Tax Deduction and Collection Account Number commonly known as TAN is a 10-digit alphanumeric number . It is allotted by the Income Tax Department to entities undertaking specified transactions. TAN is a mandatory requirement for all persons required to deduct TDS
TAN is required by all persons , be it individuals, private limited companies, Trust, etc who are undertaking specified transactions .Any persons who have to deduct TDS needs a TAN Number.
Also it is important to note that not quoting the 10-digit alphanumeric number in relevant documents like TDS/TCS returns, e-TDS/e-TCS returns, TDS/TCS certificates, and TDS/TCS payment challans can lead to a penalty of Rs.10,000.
More than being a benefit, TAN is a mandatory requirement for entities deducting TDS. The unavailability of Tan while undertaking specified transactions can lead to a penalty of Rs 10000
At Clearbiz, we follow a streamlined TAN number application process to make it as easy and comfortable as possible for our clients. It is an entirely online process, You can obtain the TAN card from the comforts of your office/home without any tension
Only a PAN card is required to process a TAN Number Application
Clearbiz provides all services related to TAN Cards. It includes fresh applications for allotment of TAN. New TANs for new jurisdiction if required, correction is TAN already issued
ClearBiz offers a hassle-free online process for TAN card applications. We are backed by experts who can handle the documentation and TAN application Filing with ease .Our transparent fees and timely completion ensure will ensure a smooth and seamless experience from the very begin till you get your hands on the TAN Card.