TAN No. is Tax Deduction /collection account number, required by any business entity /company /person whose TDS(Tax Deducted at Source) /TCS( (Tax Collected at Source)Withholding Tax required to be deducted under Income Tax 1961.TAN No. is 10 digit alpha numeric account number allotted by \Income Tax Department.
In more simple terms, If you make Business Expenses in India, then as per Law you need to withhold a certain amount of money from the payment, as per rate notified by govt & Pay the withhold amount to govt under the TAN registration account
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|Asked: 12/15/18, 4:25 AM|
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|Last updated: 1/18/19, 12:00 AM|