Tax Deduction and Collection Account Number (TAN)
Process of Online TAN Application
- TAN can be applied online by making Payments through Demand Draft / Cheque / Credit Card / Debit Card / Net Banking. For making an online application for TAN, a person has to apply on the NSDL website.
- An offline application for TAN can be made by procuring the prescribed form from the TIN-FC Centres.
Requirements of TAN
It is mandatory to quote TAN in the following documents:
- TDS Statements i.e. returns
- TCS Statements i.e. returns
- Statements of financial transactions for reportable accounts
- Challans for payment of TDS/TCS
- TDS/TCS certificates etc
Correction/Modification in TAN
If there is any change in the particulars of TAN (i.e. change in data provided at the time of allotment of TAN), such change is required to be communicated to the IT Department in the prescribed form, i.e. “Form for Change or Correction in TAN data”. A duly filled form is to be submitted with the TIN Facilitation Centres.
Penalty for failure to obtain TAN or furnishing the wrong TAN
A penalty is liable to be imposed under the Income Tax laws in case, a person deducting or collecting tax, fails to obtain the TAN or furnishes the wrong TAN on any document.
In all the above situations, an NRI may have to go through certain government procedures that can get pulverizing, complex, or time-consuming. For this reason, our Experts offer a plethora of NRI tax services inclusive of NRI TAN services. These include Online TAN Application, TAN rectification, modification in TAN, and every procedure that comes under the umbrella of NRI TAN services.
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