InterviewSolution
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InterviewSolution
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Explain what is TAN. |
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Answer» (i) TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. (ii) It is compulsory to quote TAN in TDS/ TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan and TDS/TCS certificates. (iii) All persons who are required to deduct tax at source or collect tax at source on behalf of Income Tax Department are required to apply for and obtain TAN. |
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