We all are familiar with Permanent Account Number (PAN) which is compulsory to receive salary or any payment. Similarly, it is necessary to have Tax Deduction Account Number (TAN) for those who have to meet all these payment obligations. TAN, a compulsory 10 digit alpha number, enables employers or firms to carry out Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) and deposit the same to the Central Government account citing the TAN number. As a matter of fact, a proprietorship business and different entities (i.e., Private Limited Company, LLP, and so on.,) must deduct TDS while paying salary, payments to the contractual worker or sub-temporary workers, payment of the lease surpassing Rs.1,80,000 every year, and so on. After deducting tax at source, the registered entity for TAN will issue a TDS Certificate as confirmation of accumulation of tax.
To get TAN, the application must be made for distribution of TAN in Form 49B along with the necessary supporting records. After scrutinising the application, the TAN will be issued to the applicant, and it must cite the TAN in all TDS/TCS returns, TDS/TCS payment challans, and all TDS/TCS Certificates.
Great Solution is an approved TAN Facilitation Centre. We can enable you to get TAN in a quick and hassle-free manner.
TAN is a 10 character alpha-numeric code issued by the Income Tax Department for people in charge of deducting or gathering tax at source. The people running a company or proprietorship are required to get TAN and deduct tax at source when required.
Tax Deducted at Source must be paid into the approved bank, citing the TAN and utilizing Challan 281. TDS during the preceding month must be paid before the seventh day of the next month.
Great Solution is an approved TAN facilitation centre. Simply send the TAN application along with the required documents and we will enable you to get your TAN rapidly.
The validation of TAN is for the lifetime, once it is issued. But, TDS Filings must be made quarterly on the 15th day of July, October, January, and May. If you do not file TDS by the due date, you will have to pay a penalty.
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