TAN Number is a 10 Digit Alphanumeric Number abbreviation used for Tax Deduction and Collection Account Number. Every Assessee liable to deduct TDS is required to apply for TAN and shall quote this number in all TDS Returns,TDS payments and any other communications regarding TDS with Income Tax Department.
Failure to do so may attract a heavy penalty of up to Rs.10,000. TDS Returns and Payments will not be received by the Banks if TAN is not quoted.
What Is Included In Our Package?
Procedure for TAN Registration
Features of TAN Registration
- TAN is a 10 character alpha-numeric code issued by the Tax Department for persons responsible for deducting or collecting tax at source.
- Once a TAN is issued, it is valid for lifetime.
- TDS Payments-TAN must be quoted when depositing TDS in the authorized bank.
- Individuals running a proprietorship are required to obtain TAN and deduct tax at source when required