If you are a business owner in India, it is important for you to comply with the tax laws of the country. In order to make things go right for your business, you must obtain a TAN number.
Are you wondering ‘What is TAN Number; then we got the answer for you. It is a unique, 10-digit alphanumeric identification given to all entities for the collection or deduction of taxes at the source. It may seem that TAN number search is another hurdle in this bureaucratic world, but it is a crucial identification detail that you need to obtain in order to run your business smoothly.
In this blog by Urban Money, we will tell you what a TAN number is, the process to apply for it, how to find a TAN number, its format and a lot more in detail.
What Is TAN Number and Its Full Form?
TAN stands for Tax Deduction and Collection Account Number. It is a 10-digit alphanumeric code that is assigned by the Income Tax Department of India to businesses and entities that are required to deduct or collect tax at source.
The full form of TAN, as mentioned above, is Tax Deduction and Collection Account Number. The TAN number is a unique identification number that is used to track tax payments and ensure that the appropriate taxes are deducted and deposited with the government.
Entities that are required to deduct or collect tax at source on various payments such as salaries, interest, rent, commission, and payments to contractors must obtain a TAN number.
Businesses can apply for a TAN number by submitting Form 49B to the Income Tax Department. Once the application is processed, the Income Tax Department will issue a TAN certificate containing the unique 10-digit alphanumeric code.
How to Get a TAN Number?
TAN, or Transaction Authentication Number, is typically provided by the bank or financial institution that you have an account with. The exact process for obtaining a TAN number may vary depending on the institution, but here are the general steps to get a TAN:
Step 1: Register for online banking: If you haven't already, you'll need to register for online banking with your bank. This usually involves setting up an online account and providing personal information, such as your name, address, and contact information.
Step 2: Enable TAN: Once you have registered for online banking, you may need to enable TAN for your account. This may involve selecting a TAN method, such as receiving a text message with a TAN code or using a TAN generator device provided by your bank.
Step 3: Receive TAN: After you have enabled TAN, your bank will provide you with a unique TAN number. This number is typically sent to you via text message or displayed on your TAN generator device.
Step 4: Use TAN for transactions: Whenever you make a financial transaction, you will be prompted to enter your TAN number to authenticate the transaction. Make sure to keep your TAN number secure and do not share it with anyone.
It's important to note that the specific process for obtaining a TAN number may vary depending on the bank or financial institution that you have an account with. You should consult with your bank's customer service or online help resources for specific instructions on how to obtain and use a TAN.
Why Is TAN Necessary?
TAN, or Transaction Authentication Number, is a security measure used in online banking and other financial transactions to verify that the person making the transaction is the legitimate account holder. TAN is necessary for several reasons:
- Authentication: TAN is used to authenticate the identity of the person making the transaction. It ensures that the person making the transaction is the rightful owner of the account.
- Security: TAN adds an extra layer of security to financial transactions. It prevents unauthorized access to an account and ensures that the transaction cannot be completed without the account holder's authorization.
- Fraud Prevention: TAN helps prevent fraudulent transactions. It makes it more difficult for hackers or other malicious actors to gain access to an account and make unauthorized transactions.
Overall, TAN is necessary because it helps ensure the security and integrity of financial transactions, protects account holders from fraud and unauthorized access, and promotes trust and confidence in online banking and other financial services.
What Is the Structure of TAN?
The structure of a TAN, or Transaction Authentication Number, can vary depending on the specific method or algorithm used by the bank or financial institution issuing it. However, there are some common characteristics that are typically found in TAN numbers.
- Length: TAN numbers are usually between 6 and 10 digits long.
- Complexity: TAN numbers are designed to be unique and difficult to guess. They may be generated using a variety of methods, such as random number generation, cryptographic algorithms, or a combination of both.
- One-time use: TAN numbers are typically designed to be used only once for a specific transaction. This helps prevent unauthorized use and ensures that each transaction is properly authenticated.
- Time-sensitive: Some TAN methods, such as TAN lists or TAN generators, may include a time component that makes each TAN valid for a limited period of time. This helps prevent replay attacks, where an attacker tries to use a TAN multiple times.
- Format: The TAN number format can vary depending on the method used to generate it. For example, a TAN may be a sequence of digits, letters, or a combination of both. Some TANs may also include special characters, such as hyphens or colons, to make them easier to read.
The structure of a TAN is designed to provide a secure and reliable method for authenticating financial transactions, while also being easy to use for account holders.
How To Find TAN?
The process for finding your TAN, or Transaction Authentication Number, will depend on the specific method used by your bank or financial institution. Here are some common methods for finding your TAN:
- TAN generator: If your bank provides you with a TAN generator, you can typically find your TAN by pressing a button on the device. The TAN will be displayed on the screen or provided via a message.
- TAN number list: If your bank provides you with a printed TAN list, you can find your TAN by looking up the next unused number on the list. Be sure to keep the TAN number list secure and do not share it with anyone.
- SMS: If your bank sends TANs via text message, you can find your TAN by checking your phone's messages. The TAN will typically be included in the message along with instructions on how to use it.
- Online banking: If you have enabled TAN for online banking, you can typically find your TAN by logging into your account and navigating to the TAN section. Your bank may provide you with a TAN number list of unused TANs or a way to generate a new TAN.
- Contact customer service: If you are unable to find your TAN or have other questions, you can contact your bank's customer service department for assistance. They may be able to provide you with a new TAN or help you troubleshoot any issues.
How To Know TAN?
If you have forgotten your Tax Deduction and Collection Account Number (TAN) in India, there are a few ways to retrieve it:
- Check your TAN card: If you have previously applied for and received a TAN card, your TAN number will be printed on the card. You can check your card to find your TAN number.
- Check your TDS certificate: If you have deducted TDS (tax deducted at source) or received TDS, the TDS certificate will have your TAN number mentioned on it.
- Contact the Income Tax Department: You can contact the Income Tax Department's TAN call centre or email them to request your TAN number. You will need to provide some basic details such as your name and date of birth to verify your identity.
- Check your TAN application status: If you have previously applied for a TAN, you can check the status of your application online. If the application has been processed and approved, your TAN number will be displayed in the status report.
How to Register to Know TAN Details For The New User?
You can register to know your Tax Deduction and Collection Account Number (TAN) details by following these steps:
Step 1: Go to the TIN-NSDL website, and click on "Services" and select "TAN/PAN".
Step 2: Click on "Know Your TAN" under "Services".
Step 3: On the next page, select "New TAN" and click on "Continue".
Step 4: Fill out the required details, such as your name, date of birth, and contact information, and click on "Submit".
Step 6: Follow the instructions for verifying your identity and completing the registration process.
Step 7: Once your TAN registration number is complete, you can log in to the TIN-NSDL website and use the "Know Your TAN Number" service to view your TAN details, such as the TAN number, name of the TAN holder, and other information.
It is important to keep your TAN details secure and not share them with anyone, as they can be used for fraudulent activities. It is also important to ensure that your TAN details are accurate and up-to-date to avoid any penalties or legal consequences for non-compliance with tax regulations.
How is TAN Different From PAN?
TAN and PAN are both important identification numbers used in financial transactions in India, but they serve different purposes.
TAN, or Tax Deduction and Collection Account Number, is a 10-digit alphanumeric number that is used to identify businesses or individuals who are required to deduct or collect tax at source. TAN is mandatory for those who are responsible for deducting or collecting tax, such as employers, companies, and businesses. The purpose of TAN is to track tax payments and ensure compliance with tax regulations.
On the other hand, PAN, or Permanent Account Number, is a 10-digit alphanumeric number that is issued by the Income Tax Department of India to individuals and entities. PAN is used as a unique identifier for tax purposes and is required for a variety of financial transactions, such as opening a bank account, investing in mutual funds, and filing income tax returns. PAN is a unique identifier that is used to track financial transactions and ensure compliance with tax regulations.
How To Know Your TAN Number Jurisdiction Building Name?
To know your TAN (Tax Deduction and Collection Account Number) jurisdiction building name, you can follow the steps below:
Step 1: Visit the official website of the Income Tax Department of India.
Step 2: Click on the 'Know Your TAN' option under the 'Services' tab in the top menu.
Step 3: Select the 'Jurisdiction' option and enter your TAN number.
Step 4: Enter the Captcha code and click on the 'Submit' button.
Step 5: Your TAN jurisdiction details will be displayed on the screen, including the name of the building where your TAN is registered.
Alternatively, you can also check your TAN jurisdiction details on the TIN (Tax Information Network) NSDL website by following the steps below:
Step 1: Visit the TIN NSDL website.
Step 2: Click on the 'Services' tab and select the 'Know Your TAN' option.
Step 3: Enter your TAN number and the Captcha code and click on the 'Submit' button.
Step 4: Your TAN jurisdiction details, including the name of the building, will be displayed on the screen.
Note: If you are still unable to find your TAN jurisdiction details, you can contact the TIN call centre at 020-27218080 or send an email to firstname.lastname@example.org for assistance.
Check the Status of the TAN Application
You can check the status of your Tax Deduction and Collection Account Number (TAN) application online by visiting the TIN-NSDL website. Here are the steps to check the status of your TAN application:
Step 1: Go to the TIN-NSDL website.
Step 2: Click on "Services" and select "TAN/PAN".
Step 3: Click on "Know Status of Your Application".
Step 4: Select the "Application Type" as "TAN-New".
Step 5: Enter the 14-digit acknowledgement number that you received after submitting your TAN application.
Step 6: Enter the captcha code displayed on the screen.
Step 7: Click on "Submit" to view the status of your TAN application.
The online facility provides real-time updates on the status of your TAN application, including whether it has been approved or rejected. You can also use this facility to track the delivery of your TAN card and view any discrepancies or errors in your application. It is important to keep your TAN application number and acknowledgement number safe, as you will need them to check the status of your TAN application.
Steps for TAN Number Rectification and Other Issues
If you have issues related to your Tax Deduction and Collection Account Number (TAN), such as errors in your TAN card or details, you can rectify them by following these steps:
Step 1: Visit the TIN-NSDL website (https://www.tin-nsdl.com/) and download the TAN correction form (Form 49B).
Step 2: Fill out the form with the correct information and attach any supporting documents that may be required.
Step 3: Submit the form and supporting documents to the nearest TIN facilitation centre, or send it by post to the TIN-NSDL office.
Step 4: Pay the necessary processing fee for the correction request, which is currently Rs. 65 (excluding GST) as of February 2023.
Step 5: Once your correction request has been processed, you will receive an updated TAN card or a new TAN number if the error was related to your TAN number.
In case of any other issues related to your TAN, such as a lost or stolen TAN card or forgotten TAN number, you can contact the Income Tax Department's TAN call centre or email them for assistance. Additionally, if you suspect any fraudulent activity related to your TAN, you should report it to the Income Tax Department immediately. It is important to ensure that your TAN details are accurate and up-to-date to avoid any penalties or legal consequences for non-compliance with tax regulations.
Processing Fee for TAN Number
The processing fee for applying for a Tax Deduction and Collection Account Number (TAN) is currently Rs. 65 (excluding Goods and Services Tax or GST). This fee is applicable for both new TAN applications as well as applications for changes or corrections to existing TANs. The fee can be paid online using a credit card, debit card, or net banking, or offline by submitting a demand draft or cheque. The processing fee is subject to change from time to time, so it is important to check the current fee before applying for a TAN. Additionally, some service providers may charge an additional fee for assisting with the TAN application process.
Having a TAN number is mandatory for all individuals and companies who are required to deduct or collect taxes at the source. It is vital to ensure that the TAN number is quoted accurately while filing tax returns or making tax payments to avoid penalties and legal consequences. The TAN number is an indispensable component of the Indian tax system and plays a significant role in the process of tax collection and remittance. It is important to understand the implications of TAN and its significance in the Indian tax system to comply with the legal requirements and avoid any unnecessary issues.
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FAQ's About TAN Number
What is my TAN number?
A TAN (Tax Deduction and Collection Account Number) is a 10-digit alphanumeric code assigned by the Income Tax Department to a person who is required to deduct or collect tax on payments made by them under the Indian Income Tax Act. It is used for tax deduction at source (TDS) and for collecting tax (TCS).
Is TAN and PAN the same?
No, TAN and PAN are not the same. TAN stands for Tax Deduction and Collection Account Number, while PAN stands for Permanent Account Number. TAN is a 10-digit alphanumeric code that is required by any business that deducts or collects taxes at source. PAN, on the other hand, is a unique 10-digit alphanumeric code that is issued by the Income Tax Department of India to individuals and entities.
What is the TAN number format?
The Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric number that is used to identify individuals and entities who are responsible for deducting or collecting tax at source. The TAN number format consists of four alphabets, followed by five numerals, and ending with one alphabet. The first three alphabets of the TAN number represent a code for the jurisdiction where the TAN is issued, while the fourth alphabet is the initial of the TAN holder’s name. The five numerical digits are randomly generated, and the last alphabet is a check digit that is calculated based on a formula. The TAN number format helps ensure that each TAN number is unique and can be used to track tax payments and ensure compliance with tax regulations.
Who needs the TAN number?
The Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric number that is required by individuals and entities in India who are responsible for deducting or collecting tax at source. This includes employers who deduct tax from salaries paid to their employees, business entities that make payments subject to tax deduction at source, and any person who is required to collect tax at source. TAN is mandatory for all those who are responsible for deducting or collecting tax at source and is used to track tax payments and ensure compliance with tax regulations.
Is there any fee levied for filling out the TAN application?
Yes, there is a fee associated with applying for a TAN number in India. As of now, the fee for processing a TAN application is Rs. 65 plus GST. However, this fee is subject to change, so it’s always a good idea to check the latest fee structure before submitting your TAN application.
Is it possible to make an online application to allow the TAN?
Yes, it is possible to make an online application for a TAN number in India. The Income Tax Department has authorised two service providers, namely NSDL e-Governance Infrastructure Limited and UTI Infrastructure Technology and Services Limited, to accept online TAN applications.
Who is the TAN allotted by?
In India, the Tax Deduction and Collection Account Number (TAN) is allotted by the Income Tax Department. The Central Board of Direct Taxes (CBDT), which is a statutory authority that administers the direct tax laws in India, has authorised the Income Tax Department to allot TAN to entities and individuals who are required to deduct or collect tax at source.
Is it possible to check the status of the TAN online?
Yes, it is possible to check the status of your TAN, or Tax Deduction and Collection Account Number, online in India. The Income Tax Department of India provides an online facility for checking the status of your TAN application. To check the status of your TAN online, you can visit the TIN-NSDL website, which is the official website for TAN and PAN-related services. On the website, you can navigate to the “Know Your TAN Number” section and enter your TAN application number to check the status of your application. The online facility provides real-time updates on the status of your TAN application, including whether it has been approved or rejected.
Is there any fee levied to download Form 49B?
Form 49B is the application form for obtaining a Tax Deduction and Collection Account Number (TAN) in India. The form can be downloaded for free from the website of the Income Tax Department of India, which is www.incometaxindia.gov.in. There is no fee levied by the government for downloading Form 49B.