TAN Registration Services
Tax Deduction Account Number or Tax Collection Account Number is a 10 -digit alpha-numeric number issued by the Income-tax Department. TAN is to be obtained by all persons who are responsible for deducting tax at source (TDS) or who are required to collect tax at source (TCS).
Why is TAN Required ?
TAN is required by all individuals because without it Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) returns are not accepted by TIN facilitation centres. Banks to do not accept the challans for TDS/TCS payments if TAN is not quoted.
It needs to be mentioned that failing to apply for TAN or not quoting the 10-digit alphanumeric number in specified documents like TDS/TCS returns, e-TDS/e-TCS returns, TDS/TCS certificates, and TDS/TCS payment challans can attract a penalty of Rs.10,000.