TAN Registration !

TAN Number is a 10 Digit Alphanumeric Number abbreviation used for Tax Deduction and Collection Account Number. Every Assesse liable to deduct TDS is required to apply for TAN and shall quote this number in all TDS Returns, TDS payments and any other communications regarding TDS with Income Tax Department. For small payments, the provision of TDS does not apply until it crosses a threshold limit as prescribed. It must be noted that the TDS is applicable only on the specified payment and after it reaches the threshold limit. Failure to do so may attract a heavy penalty of up to Rs.10, 000. The Banks will not receive TDS Returns and Payments if TAN is not quoted. LegalRaasta can help you obtain your TAN registration online quickly.

How much time does it take in issue of a new TAN?

TAN card gets delivered usually within 7-15 business days. The decision however solely depends upon the Issuing Authority of Govt of India.

Advantages of TDS

TDS benefits both the Government and the Taxpayers. Following are the advantages of TDS.

TDS reduces the chances of tax evasion (avoidance) as the tax is collected at source.
TDS reduces the chances of tax evasion (avoidance) as the tax is collected at source.
It is one of the steadiest sources of revenue for the government.
The tax collection base is widened as most of the people have to pay TDS in some or the other form.
It is convenient for the individuals as the tax gets deducted automatically.

What are documents to be submitted along with TAN application?

For TAN registration no particular document or proof of identity is required. For obtaining TAN, Form 49 B needs to be filled and submitted.

Documents Required-

Aadhaar Card- For proof of address and date of birth ( For Individual and HUF)
Elector’s photo identity card( For Individual and HUF)
Driving License( For Individual and HUF)
Passport( For Individual and HUF)
Copy of certificate of registration issued by Registrar of Companies (in case of a company)
Copy of certificate of registration issued by Registrar of firms or Copy of Partnership Deed. (in case of a Partnership Firm)
Copy of trust deed or copy of certificate of registration number issued by Charity Commissioner.( in Case of AOP’s)