1. Build your Credit Score
2. Reduce your Current Borrowing / EMI Costs
TAN is used to identify an entity's Tax Deduction Account. It is mandatory for an individual/entity to quote TAN while they collect tax from the source.TAN is a ten-digit alphanumeric code where the first four characters are alphabets and the next four characters are numerals, the tenth digit is an alphabet. The structure of a TAN is ABCD12345E. Anyone liable to deduct TDS must quite their TAN while making such transactions.
To verify TAN online, you're required to visit the e-filing website. Follow these simple steps to verify your TAN online
Company
Branch of Company
Statutory Body
Central/state government
Firms/AOP/Artificial judicial person
Branch of individual business/HUF
Individual
Can I deduct TDS without TAN?
No, TDS cannot be deduced without TAN. TAN is required in all cases of TDS. The TAN must be quoted while making any form of transactions with the IT department of India. You could be fined a hefty amount of Rs. 10,000 if you do not quote TAN. Moreover, if the TAN is missing, the TDS returns won't be accepted by the banks.
How can I verify the TAN of a person who deducted TDS from my payment?
You can easily verify the TAN of a person who deducted TDS from your payment, you simply need to provide their TAN details and full name.
How can I get a TAN?
You can apply for TAN online by visiting the NSDL website and filling up the application form 49B. You can apply for TAN offline by submitting the form in TIN-Facilitation Center.
What are the fees for TAN application?
The charges for TAN application is Rs.62
What are the mode of payments approved by the IT department for TAN application?
You can pay via online or offline mode to apply for TAN. You can make the payment online through debit card, credit card, net banking and you can pay through offline mode by Demand Draft or cheques.
Can PAN be used as an alternative to TAN?
No. PAN cannot be used as an alternative to TAN. TAN is meant for people who collect TDS on IT department's behalf but PAN is meant for individuals who pay any form of taxes.