TAN: Tax Deduction and Collection Account Number
TAN Full Form
TAN full form stands for Tax Deduction and Collection Account Number. The Tax Deduction and Deposit Account Number (TAN) is a 10-digit number that is required to be deducted or credited to the payments made by them under the Income Tax Act 1961 881060195158264.
Payments made by the ECC are tax deductible at source, to enable income taxpayers who have received payments to claim deduction tax in the income tax return to be credited under TAN.
Through “Form No. 49B” (recommended under the Income Tax Act of India) TAN has been enacted. Can be submitted online at the NSDL website or at the “Tax Information Network Fellowship Center” (TIN-FC). These centers have been set up all over India by the NSDL.
TAN is required to issue all TDS / TCS returns, all TDS / TCS payment receipts and all TDS / TCS certificates. If TAN is not referenced and TDS / TCS invoice is not paid then TDS / TCS return will not be accepted. Failure to apply for TAN or non-citation in specific documents carries a penalty of 10,000.
No documents need to be submitted with the request for TAN allocation. However, where the application is online, the form (PDF file) that is created after filling out the form should be sent to NSDL. The TAN application must have proof of identity and proof of address (photocopy) of the deductor.
In the case of online applications, these documents need to be sent by post (postal / courier) to the NSDL-TAN Application Division.
When the TAN full form (Tax Deduction and Collection Account Number) application is received with NSDL documents (via TIN FC/online), the details are confirmed and then sent to the Income Tax Department.
The structure of TAN is as follows:
- The first four letters are letters.
- The next five are digits.
- The last letter is one letter.
- The city or state where the TAN was issued is represented by the first three-letter.
- The fourth character represents the first character in the cutter’s name.
- The next 5 letters are numbers.
- The last character is a letter.
What Is The Full Form Of TAN?
TAN full form stands for Tax Deduction and Collection Account Number. It is a 10-digit number that is required to be deducted or credited to the payments made by them under the Income Tax Act 1961 881060195158264.
Next Topic: NPTEL Full Form