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TAN Registration Online in India

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TAN Registration Online in India - Process, Procedure, Document Required, Fees, Eligibility, Duration

A Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric number assigned to individuals to deduct or collect tax on payments they make. All TDS/TCS returns, TDS/TCS payment challans, and TDS/TCS Certificates use this number.  A TAN is valid for the rest of one's life and does not need to be renewed.

All persons who are responsible for Tax Deduction at Source (TDS) or Tax Collected at Source (TCS) on behalf of the government must get a TAN. TDS allows a person (deductor) who is required to make a payment to another person (deductee) to subtract tax at the source, and transfer the remaining amount to the deductee. On the other hand, TCS is an indirect tax that a seller collects from a customer when the latter makes a transaction.

TDS ensures that the government's tax collection is proponed and that the burden of tax payment is distributed. Individuals who deduct tax at source are required to pay tax to the credit of the Central Government, referencing the TAN Number.

A proprietorship firm, a Private Limited Company, LLP, etc., must deduct tax at source when making certain payments, such as salaries, payments to contractors or subcontractors, payments of rent above Rs.1,80,000 per year, and so on. The TAN-registered entity will produce a TDS Certificate as confirmation of tax collection after deducting tax at the source.

All TDS returns must include the TAN assigned by the Income Tax Department under the Income Tax Act, 1961.

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TAN Registration Online in India Frequently Asked Questions

The following are the two types of TAN applications: Request for a new TAN number (Form 49B): This application form should be utilized if the deductor has never applied for a TAN or does not have one. Changes or Corrections to TAN Data Form for TAN Allotted: This application form should be utilized when the deductor is requesting a correction to an existing TAN card.
Salaried individuals are exempt from obtaining a TAN. Those who are eligible for applying for TAN registration include the following: • Every individual or entity that is required to deduct tax at source when making certain payments, such as salary, contractor payments, or rent payments above Rs.1,80,000 per year, etc. • Non-profit organizations that exceed the threshold limit on certain payments. • Branches of firms that exceed the stated payment thresholds. • Individuals who run a sole proprietorship.
TAN must be obtained by anyone who is in charge of deducting or collecting taxes. There are certain advantages of TAN registration. They are: • The TAN must be included on all TDS/TCS returns, payment challans, and TDS/TCS certifications that are to be issued. TDS/TCS returns will not be received if the TAN is not provided, and challans for TDS/TCS payments will not be accepted by banks if the TAN is not provided. • When filing TDS returns with TAN, the deductee's address and PIN code are auto-populated according to the Income Tax Department's guidelines, ensuring complete transparency in taxation matters.
The TAN or TAN card is created once and remains valid for the rest of one's life. A person will have to reapply if they surrender the TAN for any reason.
Individuals or entities who want to apply for TAN registration must possess the following documents: • Identity proof of the registered office • Address proof of the registered office • Legal document • Passport size photo • PAN of the company • TAN Application Form
The entity must include the TAN in all TDS/TCS returns, TDS/TCS payment challans, and TDS/TCS Certificates. The TAN number must be stated in all communications with the tax department, or a penalty of INR 10,000 will be imposed. TDS payments and TDS returns are also rejected if the TAN number is not provided.
Credence Corporate Solutions can assist entities in obtaining TAN Registration in a timely and cost-effective manner. To begin processing all business payments, get a TAN registration with Credence Corporate Solutions support.

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