TAN
Effortless TAN Services with The Business Founders
Welcome to The Business Founders, your reliable partner for all your TAN (Tax Deduction and Collection Account Number) needs. We understand the importance of TAN in tax compliance for businesses and offer expert assistance to simplify the process for you. With our services, obtain your TAN hassle-free and ensure seamless tax deduction and collection operations.
About TAN
The Tax Deduction and Collection Account Number (TAN) is a unique alphanumeric code issued by the Income Tax Department of India. It is mandatory for entities responsible for deducting or collecting tax at the source (TDS/TCS). TAN is essential for businesses to comply with tax regulations and ensure accurate deduction and collection of taxes.
Our TAN Services
- New TAN Application: We facilitate the smooth application process for a new TAN, ensuring compliance with all regulatory requirements and guidelines.
- Correction/Update: If you need to update information or correct errors in your existing TAN details, we provide guidance and support throughout the process.
- Reprint of TAN Card: In case of loss, damage, or theft of your TAN card, we assist in the reprinting process to ensure you have a valid TAN for tax compliance.
- TAN Verification: We offer TAN verification services to validate TAN details for businesses and entities as per regulatory standards.
Why Choose The Business Founders?
- Expert Assistance: Benefit from our expertise and knowledge in TAN services, ensuring efficient processing and compliance with tax regulations.
- Tailored Solutions: We understand the unique requirements of businesses and provide personalized assistance tailored to your specific needs.
- Prompt Service: We prioritize timely service delivery, ensuring quick processing of your TAN applications and requests.
- Compliance Assurance: Rest assured that your TAN applications and updates are compliant with all regulatory requirements, minimizing any potential issues or delays.
Get Started Today
Ready to simplify your TAN requirements? Contact The Business Founders today to learn more about our TAN services and how we can assist you. Let us handle your TAN needs efficiently, allowing you to focus on your business operations without any tax compliance worries.
FAQs
TAN stands for Tax Deduction and Collection Account Number. It is a unique alphanumeric code issued by the Income Tax Department of India to entities responsible for deducting or collecting tax at the source (TDS/TCS).
Any entity liable to deduct or collect tax at the source as per the provisions of the Income Tax Act, 1961, needs to obtain a TAN. This includes individuals, businesses, government departments, and other entities making specified payments subject to TDS/TCS.
You can apply for a TAN online through the NSDL or UTITSL websites or offline by submitting Form 49B (TAN Application) to the designated TAN facilitation centers. The application can be made by the entity’s authorized signatory.
The documents required for TAN application include proof of identity, proof of address, and proof of incorporation or registration, depending on the type of entity. Copies of PAN card and Aadhaar card of the applicant may also be required.
Yes, it is mandatory to quote TAN on all TDS/TCS returns, challans, and TDS certificates issued to deductees. Failure to quote TAN may result in rejection of returns and penalties.
Yes, you can surrender your TAN if it is no longer required by submitting a request for surrender to the designated TAN facilitation centers. Surrendering TAN is advisable to avoid compliance issues and penalties.
No, it is illegal to have multiple TANs. Each entity should obtain only one TAN for its tax deduction and collection activities. Duplicate TANs may lead to confusion, non-compliance, and penalties.
The processing time for TAN application varies, but it typically takes around 15 to 20 working days for the TAN to be allotted after the application is processed successfully.
TAN is mandatory for businesses and entities liable to deduct or collect tax at the source as per the provisions of the Income Tax Act. However, certain entities such as individuals not liable to deduct tax at source may not require a TAN.
Yes, you can verify the validity of a TAN online through the Income Tax Department’s TAN verification portal by entering the TAN details.
No, TAN does not require renewal. Once allotted, TAN remains valid for the lifetime of the entity unless surrendered or canceled by the Income Tax Department.
TAN (Tax Deduction and Collection Account Number) and PAN (Permanent Account Number) are both unique identification numbers issued by the Income Tax Department. However, they serve different purposes. TAN is used by entities for tax deduction and collection at the source (TDS/TCS), while PAN is used by individuals and entities for various tax-related purposes, including filing income tax returns, opening bank accounts, and conducting financial
Yes, there can be penalties for not obtaining a TAN when required. Under the Income Tax Act, entities liable to deduct or collect tax at the source are mandated to obtain a TAN. Failure to do so can lead to penalties under Section 272BB of the Income Tax Act, which could amount to a fine of Rs. 10,000.
Yes, a single TAN can be used for multiple branches or locations of a business. However, it is important to ensure that all transactions and tax deductions or collections made at different branches are accurately recorded and reported under the same TAN.
Once allotted, a TAN is valid for the lifetime of the entity unless surrendered or cancelled by the Income Tax Department. There is no need to renew or reapply for TAN unless there are changes in the entity’s details or status that require a new TAN to be obtained.
