TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. Under Section 203A of the Income Tax Act, 1961, it is mandatory to quote Tax Deduction Account Number (TAN) allotted by the Income Tax Department (ITD) on all TDS returns.
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(a) TDS statements i.e. return
(b) Challans for payment of TDS
(c) TDS certificates
(d) Other documents as may be prescribed
If a person fails to apply for TAN or failed to quote or quotes incorrect TAN in the above specified documents, a penalty of Rs. 10,000 shall be levied.
The deductor can apply for TAN online at NSDL-TIN website (https://tin.tin.nsdl.com/tan/index.html)
(1) On confirmation of correct uploading of online application, an acknowledgement will be displayed on screen. The acknowledgement consists of:
(2) Applicant has to save the acknowledgment and should obtain a print of the same.
(3) The applicant should sign the acknowledgment. Signature should only be within the box provided in the acknowledgement.
(4) In case of applicants other than individual, the authorised signatory shall sign the acknowledgement and affix the appropriate seal or stamp.
(5) Thumb impression, if used, should be attested by Magistrate/Notary Public/Gazetted Officer under his official seal and stamp.
An application for allotment of TAN shall be made in duplicate in Form No. 49B at any TIN Facilitation Centers (TIN-FC). Addresses of TIN-FCs are available at NSDL-TIN website.
The processing fee is Rs. 65 (including Goods and Service Tax).
(Republished with Amendments by Team Taxguru.)