What is the full form of TAN?

TAN stands for "Tax Deduction and Collection Account Number"

TAN represents Tax Deduction and Collection Account Number. It is given by the Income Tax Department of India to those people and firms who are needed to deduct or pay charges on installments made by them, under the Income Tax Act, 1961. Under Section 203A of the Income Tax Department, it is required to give the TAN in all TDS returns and Challans while making good on duty.

Along these lines, TAN is the record number that is utilized to make good on the assessment, without having a TAN you can`t settle the duty. On accepting the duty sum the annual expense division confirms the sum and on the off chance that the citizen has saved an additional assessment accidentally, at that point the additional assessment will be credited once more into his record.

Configuration of a TAN

TAN is a ten-digit alphanumeric number. The initial three letters of TAN speak to a city, the fourth letter is the underlying of the citizen and the following five numbers and the last letter make the TAN special.

The most effective method to apply for TAN

• For TAN top off the structure no. 49B. At that point connect all the necessary archives, for example, personality confirmation and address evidence and submit it at the site of NSDL or Tax data network assistance focus.
• On getting the TAN application structure, the NSDL division checks the subtleties and sends the application structure to the personal expense office.
• The Income charge office endorses the application and sends a novel number (TAN) to the NSDL division.
• The NSDL division advises the candidate about the TAN.