Ask 4 Compliance | TAN Registration
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TAN REGISTRATION

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TAN REGISTRATION

In India, a Tax Deduction and Collection Account Number (TAN) is a 10 digit [9427583067] number issued to persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961.

Our team of highly qualified professionals at Ask4compliance.com can help your business obtain TAN Registration to avail a host of benefits.

 

Persons Liable to Apply for TAN

  • Every person liable to deduct tax at source or collect tax at source is required to obtain TAN.
  • However, a person required to deduct tax under section 194-IA can use PAN in place of TAN as such person is not required to obtain TAN. Further, a person required to deduct tax under section 194-IB shall not be required to obtain tax deduction account number (TAN).
  • As per section 194-IB (as inserted by Finance Act, 2017), any individual or HUF [whose books of account are not required to be audited under section 44AB] is liable to deduct tax at the rate of 5% while making payment of rent of any land or building or both to a resident person if amount of rent exceeds Rs. 50,000 for a month or part of a month.

Process & Timeline

8-10 days

Professional Fees

Rs. 1500

(GST, Government Fees and other Out of Pocket Expenses Extra)

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RELEVANCE OF TAN

  • As per section 203A of the Income-tax Act, 1961, every person who deducts or collects tax at source has to apply for the allotment of TAN.
  • Section 203A also makes it mandatory to quote TAN in following documents:
    • TDS statements i.e. return
    • TCS statements i.e. return
    • Statement of financial transactions or reportable accounts
    • Challans for payment of TDS/TCS
    • TDS/TCS certificates
    • Other documents as may be prescribed

DOCUMENTS REQUIRED FOR REGISTRATION OF TAN

  • Details of Deductor
  • Contact details of Deductor
  • Provide details of accepted regular statement

Free Consultation

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