TAN

A Tax Collection Account Number (TCAN), commonly known as TAN, is a unique identifier assigned to businesses and individuals for specific tax purposes, particularly for tax deducted at source (TDS) or tax collected at source (TCS). It enables government agencies to accurately track and manage these tax payments. TANs are crucial for ensuring strict compliance with tax regulations and facilitating efficient tax collection processes. With a designated TAN, taxpayers can easily monitor their tax liabilities related to TDS/TCS and streamline their interactions with tax authorities.

What is TAN?

TAN stands for Tax Deduction Account Number or Tax Collection Account Number, a distinct identifier issued by the Income Tax Department. It is a 10-digit alphanumeric number.

Every assessee liable to deduct Tax Deducted at Source (TDS) or collect Tax Collected at Source (TCS) is mandatorily required to apply for TAN. This number must be quoted in all TDS Returns, TCS Returns, TDS/TCS payments, and any other communications regarding TDS/TCS with the Income Tax Department. It is compulsory to quote TAN in all TDS / TCS returns (including any e-TDS / TCS return), any TDS / TCS payment challan, and TDS/TCS certificates. Easypaytax assists in seamless TAN registration and compliance.

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Features of TAN Registration

  • Unique Identification: TAN is a 10-character alphanumeric code issued by the Tax Department specifically for people responsible for deducting or collecting tax at source.
  • Lifetime Validity: Once a TAN is issued, it remains valid for the lifetime of the entity, ensuring continuous identification for tax purposes.
  • Mandatory for TDS Payments: TAN must be quoted without fail when depositing TDS/TCS in the authorized bank branches.
  • Applicable to Proprietorships: Individuals operating a proprietorship are also required to obtain TAN and deduct tax at source when mandated by law.

Easypaytax simplifies the entire TAN registration and compliance process, ensuring you meet all regulatory requirements efficiently.

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