TAN or Tax Deduction and Collection Number (TAN) is mandatory 10 digit alpha number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government.
Tax deducted at source (TDS) ensures that the Government’s collection of tax is proposed and the responsibility for paying tax is diversified. The person deducting the tax at source is required to deposit the tax deducted to the credit of Central Government – quoting the TAN number. Individuals who are salaried are not required to obtain TAN or deduct tax at source.
However, a proprietorship business and other entities (i.e., Private Limited Company, LLP, etc.,) must deduct tax at source while making certain payment like salary, payments to contractor or sub-contractors, payment of rent etc. TaxHills can help obtain TAN Registration.
TDS return filing is mandatory and is required every quarter by all persons and entities who have deducted tax at source. TaxHills can help with TDS Return Filing Services Online.
TDS Return Filing Services Online.