TAN is Tax Deduction and Collection Account Number, a 10-digit alphanumeric number. It is issued to persons who are required to deduct tax or collect tax on payments made by them. TAN is required in all Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) returns, TDS payments, and other transactions regarding TDS with the Income Tax department.
The income Tax department uses TAN to track the payments and filings of a person or entity that is liable to deduct tax at source and pay to the government. For this same reason, TAN registration is required.
To obtain TAN, application must be made for allotment of TAN in Form 49B along with the required supporting documents. Based on the application, the TAN will be allotted to the entity and the entity must quote the TAN in all TDS/TCS returns, TDS/TCS payment challans, and all TDS/TCS Certificates. we can help you obtain your TAN registration quickly and hassle-fee.
TAN Registration in Delhi means Tax Deduction and Collection Number (TAN) is mandatory and an Online TAN Registration process in Delhi having 10 digit alpha numbers required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government in Delhi, India. Tax deducted at source (TDS) ensures that the Government's collection of tax is proposed and the responsibility for paying tax is diversified. The person deducting the tax at source is required to deposit the tax deducted to the credit of the Central Government - quoting the TAN number which is registered by an Online TAN Registration Service provider in Delhi. Salaried individuals are not required to obtain TAN. However, a proprietorship business and other entities (i.e., Private Limited Company, LLP, etc.) must deduct tax at source and while making certain payments like salary, payments to contractor or sub-contractors, payment of rent exceeding Rs.1,80,000.00 per year, etc. On deducting tax at source, the entity registered for TAN will issue a TDS Certificate as proof of collection of tax.
To obtain TAN, an application must be made for allotment of TAN in Form 49B along with the required supporting documents by an Online TAN Registration Service provider in Delhi. Based on the application, the TAN Registration Service Provider in Delhi will apply for a TAN Number and then the TAN will be allotted to the entity furthermore the business entity shall quote the TAN in all TDS/TCS returns, TDS/TCS payment challans, and all TDS/TCS Certificates. TaxPro Experts Delhi can help you obtain your TAN Registration quickly and hassle-free. TaxPro Experts in Delhi is a firm of repute having skilled professional manpower dealing in Online TAN Registration Services in Delhi, GST Registrations in Delhi, and Income Tax Consultant in Delhi as a facilitation Centre.
The TAN deductor is required to quote the TAN number in every correspondence related to TDS or TCS. Failing to apply for TAN or not quoting the same on the specified documents attracts a penalty. It is compulsory to quote TAN in TDS/TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan, and TDS/TCS certificates.
As discussed above, every person liable to deduct tax at source or collect tax at source is required to obtain TAN. However, a person required to deduct tax under section 194-IA can use PAN in place of TAN as such person is not required to obtain TAN. Further, a person required to deduct tax under section 194-IB shall not be required to obtain a tax deduction account number (TAN). As per section 194-IB (as inserted by Finance Act, 2017), any individual or HUF [whose books of account are not required to be audited under section 44AB] is liable to deduct tax at the rate of 5% while making payment of rent of any land or building or both to a resident person if the amount of rent exceeds Rs. 50,000 for a month or part of a month.
Section 203A also makes it mandatory to quote TAN in following documents: (a) TDS statements i.e. return (b) TCS statements i.e. return (c) Statement of financial transactions or reportable accounts (d) Challans for payment of TDS/TCS (e) TDS/TCS certificates (f) Other documents as may be prescribed.