Table of Contents
Who is responsible for TAN application?
Ans. The provisions of section 203A of the Income-tax Act require all persons who deduct or collect tax at source to apply for the allotment of a TAN. The section also makes it mandatory for TAN to be quoted in all TDS/TCS returns, all TDS/TCS payment challans and all TDS/TCS certificates to be issued.
What are the documents required to apply for TAN?
While applying for a new TAN, applicants are not required to submit any documents. The only thing they need to submit is the signed acknowledgement slip if they apply for a new TAN through online mode.
How do I get a TAN for a proprietorship firm?
You can apply for TAN online at the NSDL-TIN website. You can then fill and submit the form online. Once you click on button ‘submit’, an acknowledgment containing a unique 14 digit acknowledgment number is generated on the screen.
Is PAN compulsory for TAN application?
The Department is considering tightening the KYC norms for TAN issuance in light of the CAG’s discovery that the procedure for allotting TAN does not require any documents as proof of identity or address, not even a PAN. “Even PAN field prescribed in the Form 49B is not required to be filled in mandatorily.”
Who is liable to deduct TDS?
When should TDS be deducted and by whom? Any person making specified payments mentioned under the Income Tax Act are required to deduct TDS at the time of making such specified payment. But no TDS has to deducted if the person making the payment is an individual or HUF whose books are not required to be audited.
Who is responsible for TDS deduction?
The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government.
How can apply TAN no for individual?
How to Apply of TAN?
- Visit www.tin-nsdl.com/index.html.
- Select ‘TAN’ under the ‘Services’ dropdown.
- Click on ‘Apply Online’
- Select ‘New TAN’
- On the new page, choose from the list ‘category of deductors’ and click on ‘Select’
- In doing so, you are redirected to Form 49B.
- Fill in the form and click ‘Submit’
Who is eligible to deduct TDS?
Any person making specified payments mentioned under the Income Tax Act are required to deduct TDS at the time of making such specified payment. But no TDS has to deducted if the person making the payment is an individual or HUF whose books are not required to be audited.
How can apply tan no for individual?
How do I get AO code for tan application?
Applicant will search its AO Code by selecting the city where it files/intends to file its TDS return. If the applicant knows its Ward/Circle/Range/Commissioner details, then search for the particular Assessing Officer (AO) description in the column ‘Ward/Circle/Range/Commissioner’.
Can I deduct TDS without TAN?
The buyer of any immovable property need not obtain a TAN (Tax Deduction Account Number) for making payment of the TDS on immovable property. You can make the payment using your PAN.
Who should deduct TCS?
Tax collected at source (TCS) is the tax payable by a seller which he collects from the buyer at the time of sale. Section 206C of the Income-tax act governs the goods on which the seller has to collect tax from the purchasers.