Tax Account Number

Mi Book

TAN stands for “Tax Deduction Account Number” which is a unique 10 digit alpha-numeric number which is allotted to all the entities who are obliged to deduct or collect tax at source under Income Tax Act. An application for TAN registration can be made by any entity in Form-49B at TIN Facilitation Centres or an application can be made online. TAN is compulsory not only for deduction/collection of tax at source but it is also required for filing quarterly TDS/ TCS returns.

The Government has specified certain transactions where tax has to be compulsorily deducted or collected by the specified assesses. Every person deducting tax deducted at source must issue a certificate to the effect that the tax has been deducted. Such certificate must quote TAN of the deductor.

Documents Requirement for TAN Application

Address Proof : Copy of Aadhar Card or other address proof

Applicants Information: Name, contact details and signature of the applicant

Certificate of Incorporation: Certificate of ICertificate of Incorporationncor: poration in case of company and LLP

Agreement: Agreement in case of LLP and Partnership Firm

Mi Book

Structure of TAN

Mi Book

First three characters

Represents your TAN jurisdiction codes in alphabets

Fourth Character

Initial of the TAN holder’s name

Fifth to Ninth Characters

System generated numeric digits

Tenth Character

Alphabetic check digit generated automatically

TAN Application Process

Day 1

1. Collection of required documents for TAN application

Day 2

1. Submission
2. Preparation and verification of TAN Application
3. Application with concerned authority
4. Sharing acknowledgement receipt

Day 3

1. Government Processing
2. Application processing by IT department

Result of Not having TAN

According to Section 272BB(1), if there is not given any TAN number to all respective TAN offices by an applicant or citizen then they need to pay a fine of Rs.10000/-. Somehow, if there is any wrong information, then there would be the same fine below Section 272BB. Except this, if you are facing such issues, then you need to check given below points that why did this happen:

If someone has not any TCS or TDS return acceptable by any PAN or TIN Facilitation Centers. If there is not any bank who accepted challans to do payment as TCS or TDS.