what is tan card
The full form of TAN is Tax Deduction and Collection Account Number. It is a 10 number alpha-numeric number. Under Section 203A of the IT Act 1961 of Income Tax, the IT department is required to provide TAN numbers to all those people whose TDS is deducted. This number is important for all those people whose tax is deducted or they collect it.
Required for TDS
According to the information received from the website of the Income Tax Department, under Section 203A of the IT Act, 1961, it is necessary that all TDS payers must have a TAN number. TAN number is a 10-digit alphanumeric number, issued by the Income Tax Department. If a person does not do this, then the Income Tax Department collects a fine of Rs 10,000 thousand from them. Also the payment of TDS through the bank is also stopped.
how to apply
TAN can be obtained both online and offline. If you want to apply offline then you will have to fill two copies of Form 49B and submit it to any nearby TAN Facilitation Center. You can find the address of TAN Facilitation Center from NSDL website https://www.tin-nsdl.com. For online application, you have to apply by visiting the website of NSDL. https://tin.tin.nsdl.com/pantan/StatusTrack.html Through this website you can apply for TAN card.
What is the difference between TAN and PAN?
The full form of PAN is Permanent Account Number while the full form of TAN is Tax Deductible Account Number. People whose taxes are deducted or deposited must have a TAN number.