Terms of the offer
A TAN (Tax Deduction and Collection Account Number) is a ten-digit alphanumeric number issued by the Income Tax (IT) department to all persons responsible for collecting or deducting tax. Under Section 203A of the Income Tax Act, 1961, it is compulsory to quote TAN on all TDS or TCS returns. Full - Form of TAN TAN stands for Tax Deduction & Collection Account Number. TAN is a unique identification number used for checking these tax deductions & collections ensuring people’s compliance with tax regulations. TAN enables accurate & transparent tax reporting and payment. It is illegal for individuals or entities to hold or use more than one TAN. Who is Allowed to Apply for TAN? Every individual who is obligated to deduct and collect income tax on behalf of the Income-tax authorities ... All of us relate to these terms in one way or another, especially when filing taxes or applying for TDS certificates. Understanding these basic differences between TAN , PAN and TIN can make your financial lives easy so that you can inch closer towards financial freedom. Businesses structured as a corporation may find it particularly helpful to understand these codes for smoother financial operations.. TAN full form stands for Tax Deduction and Collection Account Number. It is a 10-digit alpha-numeric number issued by the Income Tax Department. collecting tax at source (TCS) or deducting tax at source (TDS) receive a distinctive 10-digit alphanumeric identifier known as the TAN , which the Income Tax Department of the Central Government issues.
