Tax Account Number is commonly referred as Tax Deduction Account Number or Tax Collection Account Number, or simply TAN. TAN registration leads to a generation of 10 digits alpha-numeric code that is issued by the Income Tax Department of India. As the name suggests, it is obtained by the person responsible for deduction or collection of tax at source (TDS or TCS). Businesses while deducting the salaries of employees must obtain and mention the number. Specified criteria to collect and deduct tax at source are already prescribed by the Government. Also, it is compulsory to quote TAN of the assessee in TDS/ TCS statements and challan for payment of TDS/ TCS.
Advantages of Tax Account Number:
- TDS Certificate & Filing
- Mandatory for deduction and collection of tax
We at Wise Tax Filings make it easy and inexpensive to apply your TAN. With expert support along with timely and accurate filings, we have made it hassle free for you to get started.
Documents Required 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 Incorporation in case of company and LLP.
Agreement
Agreement in case of LLP and Partnership Firm.
Structure of TAN:
Represents TAN jurisdiction codes
First 3 Characters
Initial of the TAN holder’s name
Fourth Character
System generated numeric digits
Fifth to Nineth Characters
Alphabetic check digit generated automatically
Tenth Character
Apply for TAN in 3 easy steps:
1. Answer quick questions
Pick a package that best fits your requirements. It takes less than 5 minutes to fill our questionnaire. Provide basic details & documents required for registration along with making payment.
2. Experts will be there to help
A relationship manager will be assigned to assist you for reconciliation of the information.
3. Your TAN is assigned.
It only takes 3 working days!
Day 1 – Collection
- Collection of required documents for TAN application
Day 2 – 3 – Execution
- Preparation and verification of TAN Application
- Application with concerned authority
- Sharing acknowledgement receipt
Day 3 – Government Processing
- Application processing by IT department
Frequently Asked Questions:
Within how much time is the Tax Account Number (TAN) is allotted by NSDL?
Once applied generally, it takes 7-10 working days for TAN allotment by NSDL. However, receipt of a physical TAN letter may take time depending upon the processing time by the department. Once the application for TAN number is made, it is always possible to know your TAN status.
Can a PAN be used instead of TAN?
No, a PAN cannot be used instead of TAN. PAN and TAN serve two different purposes. Therefore, it is mandatory for those deducting tax at source to obtain a TAN.
How and when should the TDS be deposited?
Tax Deducted at Source (TDS) must be deposited through banks using Challan 281, quoting the TAN number of the entity. The deadline for payment of TDS is the 7th day of every month.
More Questions? Our Experts are here to help, fill out the form on this page or
Call us at: 1800 123 0000 or Email us: hello@wisetaxfilings.com