TAN Registration Consultant In Gujarat
Tax Account Number is commonly referred as Tax Deduction Account Number or Tax Collection Account Number, or simply TAN. TAN registration leads to a generation of 10 digits alpha-numeric code that is issued by the Income Tax Department of India. As the name suggests, it is obtained by the person responsible for deduction or collection of tax at source (TDS or TCS). Businesses while deducting the salaries of employees must obtain and mention the number. Specified criteria to collect and deduct tax at source are already prescribed by the Government. Also, it is compulsory to quote TAN of the assessee in TDS/ TCS statements and challan for payment of TDS/ TCS.
Key Features of TAN:
- It is mandatory to quote TAN on TDS returns and challans. It is also required to be quoted in all correspondences with the IT Department.
- Once a TAN is issued, it is valid for lifetime. However, TDS Filings must be made quarterly on the 31st day of July, October, January, and May. Non-filing of TDS filings within the due date will attract a penalty.
- You can have multiple TAN for a single PAN. You can apply for different PAN for different branches of the same company.
You can contact us for more information, on filing your TAN Application and also for resolving your complex queries and easily meet our team of experts by calling on +91 9409810715 or mail us your query at contact@aeldraconsultancy.in.
