Is TAN the same as TIN?

Number composition: TAN is a ten digit alpha-numeric number, which is assigned to entities that are responsible for collecting and deducting taxes. TIN, on the other hand, is an eleven digit registration number assigned to business enterprises and companies, for whom VAT is applicable.

What is TAN TIN?

Overview. 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.

What is TAN number?

Tax Deduction Account Number or Tax Collection Account Number is a 10-digit alpha- numeric number issued by the Income-tax Department (we will refer to it as TAN). TAN is to be obtained by all persons who are responsible for deducting tax at source (TDS) or who are required to collect tax at source (TCS).

How can I get TAN and TIN number?

You can apply for TAN online at the Protean-TIN website. You can then fill and submit the form online. Once you click on button ‘submit’, an acknowledgment containing a unique 14 digit acknowledgment number is generated on the screen.

What is TIN number in India?

What is a TIN or Tax Identification Number? Unlike PAN and TAN cards, TIN is an 11-digit unique number issued by the respective Indian states’ Commercial Tax Department. It can be further explained as follows: An identification number issued to businesses to track their transactions.

Is TIN no mandatory after GST?

Goods and Services Tax – GST or GSTIN TIN or VAT has now been replaced by GST from 1st July 2017. All entities who had VAT or TIN registration are mandatorily required to obtain GST registration. Further, any entity involved in the supply of goods or services with a value of more than Rs. 20 lakhs in a year (Rs.

Is TAN and GST same?

TAN full form in GST is (Tax Deduction and Collection Account Number) which is a 10 digit alphanumeric code that shall be obtained by the person who is supposed to collect or deduct tax. For business deducting tax at source, it is important for them to obtain GST TAN as it needs to be mentioned in TDS or TCS return.

Why is TAN required?

Why is TAN Required? TAN is required by all individuals because without it Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) returns are not accepted by TIN facilitation centres. Banks to do not accept the challans for TDS/TCS payments if TAN is not quoted.

What is TIN no in India?

What is full form of TIN?

Tax Information Network (TIN) is an initiative by Income Tax Department of India (ITD) for the modernization of the current system for collection, processing, monitoring and accounting of direct taxes using information technology.

Is TAN mandatory?

Ans. 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. 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.