TAN Registration

 

TAN Registration

TAN stands for Tax Deduction and Collection Account Number. It is a 10 digit alphanumeric number that’s allotted individuals who are supposed to deduct tax at source or TDS. TAN number or TAN registration is quite important for businesses deducting tax at source and is necessary to be quoted in TDS or TCS return.

Tax Deducted at source (TDS) and Tax collected at source (TCS) are number of approaches of tax deduction. Tax deducted at source (TDS), as name implies is the deduction of tax at source (where income arises) by authorized deductors. To get TAN, application need to be created for allotment of TAN in Form 49B along with the necessary supporting documents. Based on the application, the TAN will be allotted to the entity and the entity must quote the TAN in all TDS/TCS returns, TDS/TCS payment challans and all TDS/TCS Certificates. Employer deducts applicable tax from the salary of the employees and pays the same to the income tax department on behalf of their employees. Salaried people are not necessary to deduct tax at source. However individuals running a proprietorship are necessary to get TAN and deduct tax at source when necessary.

Glad e-filing can help you to get TAN totally-free and quickly. Just send the TAN application along with the supporting documents and we will support you get your TAN quickly. TAN can be obtained in five-ten working days from the time of submission of application with the necessary documents. The application should be submitted in hard/soft copy format along with self-attested copy of address and identity proof of the applicant.

WHAT YOU NEED TO KNOW
TDS Validity and Payments

Once a TAN is issued, it is valid for lifetime. However, TDS Filings should be made quarterly on the 15th day of July, October, January and May. Non-filing of TDS filings within the due date will appeal to a penalty. Tax Deducted at Source should be paid into authorized bank, quoting the TAN and using Challan 281.TDS during the preceding month should be paid before the 7th day of the following month.

TAN - Tax deduction Account Number

In India, a Tax Deduction and Collection Account Number (TAN) is a 10digit alphanumeric number issued to individuals/firms/companies who are necessary to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961. All most all for-profit entities and not-for-profit entities are necessary to get TAN.