TAN (Withholding Tax)
TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. 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.
An application for allotment of TAN is to be filled in Form 49B and submitted at any of the TIN facilitation centres meant for receipt of e-TDS returns.
TAN is allotted by the Income Tax Department on the basis of the application submitted to TIN Facilitation Centres managed by National Securities Depository Limited ( NSDL ). NSDL will intimate the TAN which will be required to be mentioned in all future correspondence relating to TDS/TCS.
The income tax act makes it mandatory for TAN to be quoted in all TDS/TCS returns, all TDS/TCS payment challans and all TDS/TCS certificates to be issued. Failure to apply for TAN or comply with any of the other provisions of the Act attracts a penalty. TDS/TCS returns will not be received if TAN is not quoted and challans for TDS/TCS payments will not be accepted by banks.
We offer following services with respect to TAN:
- Income Tax Act provides that every person whose total income exceeds the maximum amount not chargeable to tax
- Filing registration application for TAN
- Keeping track for registration application
- Speedy retrieval of TAN registration certificate
- Filing TDS/TCS return for all the assessees