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A 10-digit alpha-numeric number is TAN or Tax Deduction and Collection Account Number necessary to be collected from all individuals liable for deducting or collect tax, TAN is not a requirement until any individual can continue with tax deduction or payment. It is mandatory to cite TAN in TDS / TCS returns (including all e-TDS / TCS returns), all TDS / TCS reimbursement vouchers and TDS / TCS certificates.
For Business-man & Consultants
The TAN number of the contractors is a particular number allocated to the deduction / collection of TDS and to the transfer of the same sum to the A / c government by the individual making the request in relation to the company purpose / transaction. TAN No offers a special Id to the Tax Deductor / Collector and aid in recording activities, such as payment of taxes and return filing.
Rajput Jain & Associates will support you with a TAN card
Tan Related Service Rendered By Us:
TAN Application and TDS Return Filing of TDS Related Notices or, Default Notices given by Department Certain matters relating to TDS Deduction and TDS Rate.
Call Us for any information / question about TAN Registration Services.
What is TAN?
TAN is Tax Deduction and Collection Number. TAN is used by the Income Tax Department to track all payments and filings of persons or entities required to deduct tax at source and pay it to the Government. TAN is a 10 digit alpha numeric number.
Why is TAN required?
As per Mandate from Income Tax department every business entity needs to deduct TDS (Tax Deduction at Sources), while making payment for certain business transactions, such as payment to Contractors/Sub-Contractor, or Professional for their services. After such deduction such payment need to be deposit in Govt. A/c through online banking or through challan to be deposited in specified Banks and, after that a return also needs to be filed in this regards. Simply TAN no is a must before anyone can proceed for Tax deduction or payment.TDS ensures the responsibility for payment of tax is diversified and the Government receives tax sooner.
What happens if I take TAN No, even it was not required?
Taking TAN No is not a legal mistake, however once you taken the TAN no, you need to mandatorily file quarterly return, even no tax has been collected by you. Hence it adds an additional compliance cost without any benefit. In fact if you forget to file return, you will end up paying 100 Rs late filing fee per day till the date of submission of returns.
It has been seen that many online company formation consulting firm offer free TAN No, without understanding the actual need of client. That practice actually put an additional compliance burden on the client.
Does every business entity need to take TAN No?
No, Only those business which need to deduct TDS or Collect TDS need to apply for TAN No.
What are the documents that need to accompany the TAN application?
A copy of certificate of incorporation (COI) duly attested by the director has to be annexed along with form 49B. However, where the application is being made online, the acknowledgment which is generated after filling up the form will be required to be forwarded to NSDL.
Can I use a PAN instead of TAN?
No, PAN cannot be quoted where TAN is required. PAN and TAN serve two different purposes. Therefore, it is mandatory for those deducting tax at source to obtain a TAN.
What documents are required for obtaining TAN?
To obtain TAN, application must be made in Form 49B at any of the authorized TAN Facilitation Center. Rajput Jain & Associates have associates with an authorized TAN Facilitation Center.
What is the process for obtaining TAN?
Process for TAN Registration
What are procedure for TAN retrieve?
Procedure to retrieve User ID & Password for Traces as under :
Why is it necessary to have TAN?
TAN is required to be quoted in all TDS/TCS returns all TDS/TCS payment challans and all TDS/TCS certificates to be issued. TDS/TCS returns will not be received if TAN is not quoted and challans for TDS/TCS payments will not be accepted by banks. Failure to apply for TAN or not quoting the same in the specified documents attracts a penalty of Rs.10000.
What are Compliances which need to be done after taking TAN no.?
After taking TAN No every firm need to comply with 2 compliances:-
Rajput Jain and Associates is the largest online service platform in India which provides easy solutions in starting their new business at affordable cost. We aim at helping the entrepreneurs at every legal and regulatory step. We stay as your partner during entire business cycle and ensure that the business keeps prospering and remains complaint.
Rajput Jain and Associates is a network of experienced chartered accountants, lawyers, company secretaries, cost accountants, financial experts, expert bankers all over India to provide the needed services for small and medium size enterprises.
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Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.
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