TAN- TAX DEDUCTION ACCOUNT NUMBER

Tax Deduction Account Number is an alphanumeric number issued to individuals who are required to deduct tax on payments made by them under the Indian Income Tax Act, 1961.

The Tax deducted at Source on payments made by assessees has to be deposited with Central Government under the following number.

Application for TAN

An application for allotment of TAN is to be filed in Form 49B and submitted to any TIN-FC. Addresses of TIN-FCs are available at www.tin-nsdl.com. Alternatively, you can apply for TAN online at the NSDL-TIN website.

No documents are required to be submitted along with the application for allotment of TAN. However, where the application is being made online, the signed acknowledgment which is generated after filling up the form should be forwarded to NSDL. Detailed guidelines for submission of application are available on NSDL-TIN website.

** TAN can be applied only if the assessee is holding a PAN, so before applying for TAN, PAN is required to be obtained from the Income Tax Department.

** TAN is also used for Tax collected at source purposes, so in case of TCS also one has to apply for TAN.

Structure and validation of TAN

•TAN structure is, e.g.: AAAA99999A: First four characters are letters, next 5 numerals, last character letter.

•Each tax deductor is uniquely identified by his TAN.

•If the TAN does not follow the above structure, then the TAN will be shown invalid.

•The first three characters represent the city or state where the TAN was issued.

•The fourth character of the TAN is the initial letter of the tax deductor:

Tracking TAN

TAN of an entity can be easily tracked by visiting the following link:

https://incometaxindiaefiling.gov.in/knowtan/knowtan.jsp

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All About PAN

PAN - PERMANENT ACCOUNT NUMBER

As per the common perception PAN is only a pre-requisite to file Income Tax Return. However, now a days, as per the guidelines of Reserve Bank of India and Income Tax Department, a number of financial transactions requires one to quote PAN.

Application for PAN

PAN can be applied at any of the authorised centers of UTITSL and NSDL, by filling up Form 49A. The form is available at all the centers of UTITSL and NSDL or can be downloaded from www.incometaxindia.gov.in.

Alternatively, PAN can be applied by filling up an online form by visiting the website of UTITSL (www.utitsl.co.in).

An identity proof and address proof of the applicant is also required to be submitted along with the duly signed form.

Know your PAN

PAN is generally a 10 digit alphanumeric number.

For example;

ABSPC1234X

where, first five digits are alphabets, next four are numeric digits and the last one is also an alphabet.

The fourth alphabet shows the Status of the assessees i.e.

P-Individual

F-Firm

C-Company

H-HUF

T-Trust

The fifth digit shows the First alphabet of Surname in case of an individual and of Name in case of other assessees.

For ex:

ABCPA1234X

An individual Sh. Raman Aggarwal

ABCFC1234A

A firm M/s Creative Ideas.

For more info, visit www.incometaxindia.gov.in.

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