WHY INDIA? India is emerging as one of the fastest growing economies. It is one of the most attractive destinations not only for investments but also for doing business in the recent years. Many reasons make India such a favourable destination,
TAN or Tax Deduction and Collection Number (TAN) is a 10 digit alpha numeric number, mandatorly 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 proponed 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 exceeding Rs.1,80,000 per year, etc. On deducting tax at source, the entity registered for TAN will issue a TDS Certificate as proof of collection of tax.
To obtain TAN, application must be made in Form 49B along with the required supporting documents. Based on the application, the TAN will be allotted to the entity and the entity must quote the TAN in all TDS/TCS returns, TDS/TCS payment challans and all TDS/TCS Certificates.
We can assist your business obtian TAN Registration in 7 to 12 days, subject to Government processing time.
One of our Tax Experts will prepare your TAN Application and obtain your signature in the format along with the necessary supporting documents.
Once the application is prepared, we will submit the TAN Application to the Tax Department.
Once the application and the attached supporting documents are verified, the Tax Department will allot a TAN Number for your business.
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While starting up a new business in India, a business owner has to face many challenges & take many decisions. They know their product, the technology but do not know the rules & regulations of starting up in India. They don't know what all