Every company who is responsible for Deducting Tax at Source is required to obtain a Tax Deduction and Collection Account Number (TAN).
TAN or Tax Deduction and Collection Account Number is a unique 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting the tax. Section 203A of the Income Tax Act, 1961, mandates quoting of TAN allotted by the Income Tax Department (ITD) on all TDS returns.
In case any person fails to apply for TAN number or quote the TAN or quotes incorrect TAN a penalty of Rs. 10,000 shall be levied.
The correct structure of TAN is as mentioned below:
TAN structure is as follows: ABBBB89899C
Broadly there are two modes of acquiring a valid TAN -
To apply TAN Number for a Company visit Registrationwala.com.