Anybody in charge of tax deduction or collection must receive a TAN, or Tax Reduction and Collection Account Number, which is a ten-digit alphanumeric number. As a result, pursuant to Section 203A of the Income Tax Act of 1961, the Tax Reduction Account Number (TAN) assigned by the Income Tax Return (IT) Department must be included on all TDS returns (ITA).
TAN’s Structure
The tan number apply online structure has just been revised by ITD. It is a special 10-digit alphanumeric code. Hence, TANs in this new format have been issued to all current TAN holders.
Both alphabets and digits make up the 10-digit TAN Number. The alphabets make up the first four characters of tan number apply online. The subsequent five letters are all numbers, and the last character is an alphabet once more.
The alphabets that define the Jurisdiction Code are represented by the first three main characters of the TAN.The 4th character is an alphabet representing the first letter of the tan number apply online holder’s name, which can be a corporation, a firm, or an individual; The following five characters are digital signal digits, and the last letter is also a system that created an alphabet.For example, suppose Mr. Aryan Sisodiya of Delhi is assigned a TAN. In this situation, the TAN would display DEL A 56789 B.
In what ways are PAN and TAN different from one another?
Permanent Account Number and Tax Deduction Account Number are referred to as PAN and TAN, respectively. The deductor, who is in charge of withholding tax, must obtain a TAN. As a result, in all TDS paperwork and correspondence with the Income-tax Administration, one must mention their TAN.
Even if the deductor has PAN, he must obtain TAN because PAN cannot be used to obtain online registration for TAN number.
TDS on the purchase of real estate and buildings (as per section 194-IA) may be submitted using a PAN without the deductor obtaining a TAN.
Takeaway:
To assist deductors in finding their new online registration for TAN number under TDS, ITD has developed a search feature to its website. By using this option and conducting a search for their name and previous TAN, deductors can locate their new TAN. Before the new TAN is added to their e-TDS refund file, deductors should look it up on this website to avoid any problem while filing an e-TDS return.
Where can I get Form 49B?
The TAN allotment application, or Form 49B, is available for free direct download from the NSDL e-Gov-TIN website. However, TIN-FCs also offer photocopies of the same documents. Moreover, it is acceptable to utilise printed copies of the forms in the format specified by the Income Tax Department.
Frequently Asked Question:
Who will distribute TANs?
Ans. The Income Tax Department (ITD) assigns TANs based on applications submitted offline at TIN-FCs run by NSDL e-Gov or online at the TIN-Gov website. It should be noted, nonetheless, that the applicant will receive TAN at the location listed on the TAN allotment application form.
What paperwork must be included with the TAN application?
Ans. There is no such document that must be presented with a TAN application if you are submitting the form offline. However, if the application is submitted online, the NSDL e-Gov must get the signed acknowledgement that is generated after providing the application form. On the NSDL e-Gov TIN website, which is located at www.tin-nsdl.com, you may discover the comprehensive instructions for submitting an application.
Where do I have to quote the TAN Number?
TAN is mandatorily required to be quoted on the following documents:
Tax Deducted at Source (TDS) Return or CertificateTax Collected at Source (TCS) Return or CertificateStatement of Financial Transactions or Reportable AccountsChallans for payments of TDS/TCSTDS/TCS certificatesAny other prescribed documents like Form 16/16A, etc.
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