✨ “An Essential Step Towards TDS & TCS Compliance.”
A TAN (Tax Deduction and Collection Account Number) is a 10-digit alphanumeric code issued by the Income Tax Department of India. It is mandatory for all individuals, firms, and organizations responsible for deducting or collecting tax at source to obtain and quote TAN.
Under Section 203A of the Income Tax Act, 1961, TAN must be quoted in:
All TDS/TCS returns (quarterly/annual)
Challans for TDS/TCS payments
Certificates issued against tax deducted/collected
Any correspondence with the Income Tax Department
Failure to obtain or quote TAN in the required documents may attract penalties of ₹10,000 along with other legal consequences.
Application for Issuance of a New TAN (Form 49B)
To be used when the deductor/collector has never applied for TAN before.
Applicable to businesses, individuals, trusts, firms, companies, or any entity newly required to deduct/collect tax.
Once allotted, TAN remains valid for a lifetime.
Application for Change or Correction in TAN Data (Form for Correction)
To be used by entities that already have a TAN but need to update details.
Common correction scenarios include:
Change in name/address of the deductor/collector
Modification of contact details
Correction of spelling or typographical errors in TAN data
Update in category of deductor (e.g., from firm to company)
It is compulsory for filing TDS/TCS returns.
Helps in proper tracking of tax deducted/collected.
Ensures timely credit of tax to deductees’ accounts.
Avoids penalties and ensures smooth compliance with income tax laws.
🌟 ANKG Associates – Simplifying TAN Applications, Corrections & Compliance 🌟
