ONLINE-Online application for TAN can be made from the website of NSDL-TIN website. INC-32 (SPICe) specified under sub-section (1) of section 7 of the said Act for incorporation of the company. In case of an applicant, being a company which has not been registered under the Companies Act, 2013, the application for allotment of Tax Deduction Account Number may be made in Form No. Addresses of TIN-FCs are available at NSDL-TIN website (). OFFLINE-An application for allotment of TAN is to be filed in Form 49B in duplicate and submitted to any TIN-FC.
#Superscribe the envelope meaning Offline#
There are two modes for applying for TAN: (1) Online mode and (ii) Offline mode. As per section 272BB, failure to apply for TAN or not quoting the TAN in the specified documents attracts a penalty of Rs. As per section 203A of the Income-tax Act, 1961, every person who deducts or collects tax at source has to apply for the allotment of TAN. Section 203A also makes it mandatory to quote TAN in TDS/TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan, TDS/TCS certificates and other documents as may be prescribed. (c) Statement of financial transactions or reportable accountsĬonsequences of not quoting TAN / Why is it necessary to have TAN?
Section 203A also makes it mandatory to quote TAN in following documents: This provision is applicable on individual and HUF, who are not covered under section 194C, section 194H and section 194J.Īs per section 203A of the Income-tax Act, 1961, every person who deducts or collects tax at source has to apply for the allotment of TAN.
#Superscribe the envelope meaning professional#
(3) section 194M provide for deduction of tax at source at the rate of 5% on the sum paid or credited, to a resident, on account of contractual work, commission (not being insurance commission referred to in section 194D), brokerage or professional fees, by an individual or a HUF, if aggregate of such sum exceeds Rs. This provision is applicable on individual and HUF, who is not liable to tax audit under Section 44AB in the immediately preceding financial year.
The tax shall be deducted if the rent paid or payable exceeds Rs. (2) section 194-IB provides for deduction of tax at source at the rate of 5% from payment of rent. (1) Section 194IA provides for deduction of tax at source from payment on transfer of certain immovable property other than agricultural land. However, a person required to deduct tax under section 194IA orsection 194-IB or section 194M can use PAN in place of TAN as such person is not required to obtain TAN. Every person liable to deduct tax at source or collect tax at source is required to obtain TAN. TAN is to be obtained by all persons who are responsible for deducting tax at source (TDS) or who are required to collect tax at source (TCS).įirst 4 digits of TAN are alphabets, the next 5 digits of TAN are numeric and last digit is an alphabet.įirst 3 alphabets of TAN represent the jurisdiction code, 4th alphabet is the initial of the name of the TAN holder who can be a company, firm, individual, etc. Tax Deduction Account Number or Tax Collection Account Number is a 10-digit alphanumeric number issued by the Income-tax Department (we will refer to it as TAN). Article discusses about Meaning/Structure/Relevance of TAN, Persons liable to apply for TAN, Consequences of not quoting TAN, Procedure to obtain TAN, Places from where to obtain Form 49B, Authority empowered to allot TAN, Procedure for online TAN application.
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