Overview
Benefits
Prerequisites
Overview
Tax Account Number (TAN) is also known as Tax Deduction Account Number (TDAN) or Tax Collection Account Number (TCAN). The Income Tax Department of India generates a 10-digit alpha-numeric code as a result of TAN registration. It is received by the person in charge of tax deduction or collection at source, as the name implies (TDS or TCS). Businesses must obtain and mention the number when deducting employee wages. The government has previously established certain standards for collecting and deducting tax at source. In addition, the assessee’s TAN must be included in TDS/ TCS accounts and challans for payment of TDS/ TCS.
Benefits
- Tax deduction and collection are both required
The government has designated some transactions, such as salary, in which the assessee is required to collect or deduct tax at the source. It is required to indicate the Tax Account Number while engaging in such activities. - Certificate of TDS and Filing
Every individual that deducts TDS at source is required to submit a certificate stating that the tax has been deducted as well as other essential information. The TDS certificate must include the deductors’ TAN. Additionally, submitting a TAN is required while completing TDS returns online.
Prerequisites
- Address Proof
- Applicants Information
- Certificate of Incorporation
- Agreement