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TAN Registration

500.00

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Eligibility Criteria:

  • A mandatory requirement for organisations involved in transactions that require submitting TDS proof to the Income Tax Department.
  • A TAN will be compulsory if the payable amount is more than Rs 50,000 a month.
  • Every business, individual, government agency or organisation deducting TCS or TDS is eligible for TAN application.
  • Failure to do that will result in legal action and penalties.
  • Besides that, Section 194M of the Income Tax Act 1951 allows a yearly TDS deduction of 5% for contractual work. Moreover, taxes on brokerage and commission are deductible if the principal amount is more than Rs 50 Lakh.

Benefits of TAN Registration

  • Filing TDS returns using TAN auto-populates deductee details, ensuring transparency.
  • TAN enables tracking of TDS booking status for alignment with filed returns.
  • Enterprises can apply for separate TANs for each branch or division.
  • A unique 10-digit TAN is mandatory for filing ITR, TDS, or TCS statements for faster processing.
  • Updated TAN details ensure timely TDS/TCS notifications from the Income Tax Department.
  • Secure login areas provide deductors access to TDS and TCS data.
  • Deductors can download input files for correction statements and check challan status.
  • TDS status statements aid in monitoring and managing tax obligations.
  • Section 200A simplifies TDS reconciliation for proper reporting and compliance.

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TAN Registration
500.00
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