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TAN
The Tax Deduction and Collection Account Number (TAN) required for people who are deducting or collecting tax at the source. There is a penalty of Rs.10,000 for not quoting the TAN. Anyone paying a salary or commission must be required to get a TAN.
What is TAN?
TAN is Tax Deduction and Collection Account Number. It is a 10 digit alphanumeric number. This number has to be attained by people who are accountable for deducting tax at source or collecting tax at source. It is compulsory to quote your TAN in TDS or TCS return, payment, certificates, Annual Information Return and other documents.
Every person whose taxes are deducted at the source or those who collect tax at the source is required to obtain TAN. If a person fails to apply for TAN or does not quote the TAN in the specified documents, then the person will get a penalty of Rs.10,000.
An applicant cannot provide their PAN number in the field where TAN is required to be mentioned and both these numbers serve different purposes. TAN is a unique identification number that is given to those who are deducting or collecting taxes at source on behalf of the Income Tax Department, PAN is a unique number given to assesses that is individuals and companies.
Who can Apply for TAN?
If you are paying a salary or a commission to anyone else, you should have TAN. This includes central or state government or local authority. It can be a statutory or an autonomous body, a company, a branch or a division of a company, individual or a Hindu Undivided Family, sole proprietor, firms, associations of persons, or trusts.
How to Apply for TAN?
It is important for a person to apply for TAN. There are two ways to go about it. A person can apply for TAN through an offline application or through an online application.
Offline Application of Allotment of TAN
If an applicant wishes to apply for TAN through the offline method, then he has to fill up the Form 49B in duplicate and submit it to any TIN (Tax Information Network) Facilitation Centres. If the applicant is a company that is not registered under the Companies Act 2003, then the application is to be made in Form No INC-7, this is specified in the Act of incorporation of the company in the sub-section (1) of Section 7.
After submitting the application, you must pay the processing fee by cash at TIN-FC counter. You can either pay the fee in the form or cash, cheque or demand draft.
Online Application of Allotment of TAN
If an applicant, both individual and the company wishes to apply through the online mode, by following process:
- visit the NSDL-TIN website
- After you have filled up the application, you need to make the fee payment of Rs.55 plus service tax that is applicable.
- The fee for processing a TAN application is Rs.62 (Rs.55 + 10.20% service tax). You can use the credit card or debit card or net banking to make this payment.
- On making this payment, you will receive the 14 digit acknowledgement number, status of the application, name of the applicant, contact details, payment details and a space for signature. This acknowledgement needs to be printed out and duly signed and sent to NSDL at the given NSDL address during submission. This acknowledgement should reach the NSDL within 15 days of online submission.
Those who pay the processing fee through net banking, credit card or debit card will be issued a TAN within 5 working days. TAN will be intimated by e-mail and the TAN allotment letter will be dispatched on receipt of the signed acknowledgement.
The applicant must bear in mind that the TAN Application can be made on Form 49B only, you cannot type out the application request on a plain piece of paper. The application can however be typed on Form 49B, the typing should be in capital letters.
Documents Required for TAN Application
While submitting your application for the allotment of TAN, you need not submit any documents. But if you are applying online, you need to sign the acknowledgement and forward it to the NSDL address that will be provided to you.
Use of TAN Number
- TAN is used for deductions like salary, interest, dividend, etc.
- It can be used for returns, challans and certificates.
- It auto-captures the complete address of the person who deducts tax on behalf of the IT department. It also captures the Postal Index Number recorded with the Income Tax Department.
- If a person has more than one TAN, it is illegal. But different branches or divisions of a collector can apply for separate TAN for each branch or division.
Correction of TAN
If you want to make any changes or corrections in the particulars mentioned in your TAN, then you can fill up a change request form available on NSDL website. You can also surrender your TAN for cancellation using the Form for Changes or Correction in TAN.
You need to submit the following documents along with your change request application:
- Proof of the TAN you are currently using.
- Proof of TAN that is to be surrendered or cancelled.
- TAN allotment letter or printout of TAN details.
- Relevant documented proof to support your request to change or correct certain particulars in your TAN.
