Business-License & Registration

TAN & REGISTRATION:

ABOUT Tax Deduction Account Number or Tax Collection Account Number is a 10-digit alpha¬numeric number issued by the Income-tax Department. 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). A person required to deduct tax under section 194-IA can use PAN in place of TAN as such person is not required to obtain TAN. A person required to deduct tax under section 194-IB or section 194M shall not be required to obtain a tax deduction account number (TAN).

FEATURES OF TAN: 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 the following documents:

(a) TDS statements i.e. return

(b) TCS statements i.e. return

(c) Statement of financial transactions or reportable accounts

(d) Challans for payment of TDS/TCS

(e) TDS/TCS certificates

(f) Other documents as may be prescribed The Deductor/collector cannot quote his PAN in place of TAN. If he does not possess TAN, then he has to apply for the same. However, a person required to deduct tax under section 194-IA can use PAN in place of TAN as such person is not required to obtain TAN. It is illegal to possess or use more than one TAN. Different branches/ divisions of an entity may, however, have separate TAN. Like Non-Government Deductor, the Government Deductor is also required to apply for TAN. No separate TAN is required to obtain for the purpose of TCS if the person already holds TAN for the purpose of TDS.

CONSEQUENCE OF NOT QUOTING TAN: Section 272B B(1) provides for penalty for failure to obtain TAN and section 272BB(1A) provides for penalty for quoting incorrect TAN. The penalty imposable under section 272BB is Rs. 10,000.

PROCEDURE FOR TAN REGISTRATION: There are two modes for applying for TAN:

(1) Online mode

(2) Offline mode.

OFFLINE—An application for allotment of TAN is to be filed in Form 49B in duplicate and submitted to any TIN-FC. Addresses of TIN-FCs are available at the NSDL-TIN website (https://www.tin-nsdl.com). In case of an applicant, being a company that has not been registered under the Companies Act, 2013, the application for allotment of Tax Deduction Account Number may be made in Form No. INC-32 (SPICe) specified under sub-section (1) of section 7 of the said Act for incorporation of the company.

ONLINE—Online applications for TAN can be made from the website of NSDL-TIN website. Places from where to obtain Form 49B

(1) Form 49B is freely downloadable from the website of the Income-tax Department (http://www.incometaxindia.gov.in)

(2) It is also available at TIN-FCs.

(3) Legible photocopies of Form 49B or forms legibly printed exactly as per the format prescribed by the Income-tax Department are also allowed to be used.

(4) On confirmation of correct uploading of online application, an acknowledgment will be displayed on the screen. The acknowledgment consists of: • Unique 14-digit acknowledgment number • Status of the applicant • Name of the applicant • Contact details • Payment details • Space for signature

(5) Applicant has to save the acknowledgment and should obtain a print of the same.

(6) The applicant should sign the acknowledgment. The signature should only be within the box provided in the acknowledgment.

(7) In case of applicants other than individuals, the authorized signatory shall sign the acknowledgment and affix the appropriate seal or stamp.

(8) Thumb impression, if used, should be attested by Magistrate/Notary Public/Gazetted Officer under his official seal and stamp.

## There may be complex things that occur during the process which is a time-consuming and lengthy process. The legal language of these forms is complex in nature. The government Portal and its functionality are in itself quite challenging. The support of professionals and expert can save your precious business time. Our team of LAW COMPLIANCES, having expertise in all such kinds of matters, will resolve all problems pertaining to registration & compliances and will save your precious time and Money.

Working Process:

>Choose your Plan and Pay Securely.

> Upload required document

> An expert will be assigned to you for the procedure of submission of the application.

> Our Expert will complete the process required for your work along with the necessary assistance over a call during business hours.

BASIC PLAN:

TAN REGISTRATION for individuals or for any legal entity Service Fees: 550/- inclusive All Fees.

TIME EXPECTED: Law Compliances can help you in Registration of TAN REGISTRATION in 1 day

.** **Time taken for registration will depend on the submission of the relevant documents by the client and also approval from the Government authorities. ***