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TAN or Tax Deduction and Collection Number (TAN) is an alphanumeric 10 digit number required by a person who is liable to deduct TDS and file TDS return. Thus such a person must make an application within a month in which TDS was deducted for allotment of Tax Deduction and Collection Number (TAN) in form 49B. This number allotted is mandatory to mention in all TDS Certificates issued, returns, challans, etc.
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TAN or Tax Deduction and Collection Number (TAN) is an alphanumeric 10 digit number required by a person who is liable to deduct TDS and file TDS return. Thus such a person must make an application within a month in which TDS was deducted for allotment of Tax Deduction and Collection Number (TAN) in form 49B. This number allotted is mandatory to mention in all TDS Certificates issued, returns, challans, etc.
Step 1: DOCUMENT COLLECTION: A Legal Suvidha Provider TDS Expert will collect the necessary information and documents for the preparation of the TDS return for your business.
Step 2: RETURN PREPARATION: Based on the documents and information presented, we will prepare your TDS return and send it for your approval.
Step 3:Â RETURN FILING: Once the TDS return is verified and approved by you, our TDS expert will file your TDS return with the Income Tax department.
Following are types of TDS Return Forms:
• Form 24Q: a statement for TDS deducted from salaries.
• Form 26Q: a statement for TDS deducted on all payments other than salaries.
• Form 27Q: Statement for TDS deducted on income received from interest, dividends or any other sum payable to non-residents.
TDS means Tax Deducted at Source. It is the amount deducted from payments of various kinds such as salary, contract payment, commission, etc. This deducted amount can be adjusted against the tax due to the deductee.
TAN is an alphanumeric 10 digit number required by a person who is liable to deduct TDS and file TDS return. Thus such a person must make an application within a month in which TDS was deducted for allotment of Tax Deduction and Collection Number (TAN) in form 49B. This number allotted is mandatory to mention in all TDS Certificates issued, returns, challans, etc. If a person fails to apply for TAN he may be penalized up to Rs. 10,000/-.
Once the documents and application are verified & confirmed by the department the TAN number will be communicated to the Deductor by NSDL.
PAN of the deductors has to be given by non-Government deductors. It is essential to quote PAN of all deductees.
The quarterly return will be filed online with user id & password with Digital signature of the Authorized person and we can also file a return online and then submit Form 27 & 27A to the department by physically signing the form.
Every person deducting tax as per provisions of section 203 is required to issue a certificate to the payee in respect of tax deducted by him along with certain other particulars. This certificate is called TDS Certificate. Once the TDS return is filed, the TDS certificate can be generated within 15 days to the payee. The payee can opt for an annual TDS certificate rather than receiving a quarterly TDS certificate.
Non Payment leads to Interest@ 1.50% p.m. or 18% p.a. from the date on which tax is deducted to the date of its payment. Failure to file quarterly TDS Returns in time late fee @ Rs. 200/- per day maximum of TDS amount) Section 234E.
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EXCELLENTBased on 414 reviews![]()
Gaurav Saraswat2024-04-03Prompt service, courteous and knowledgeable staff makes the whole transition smooth and Hassel free. Also very competitive pricing . Regards Gaurav Saraswat CFO- SCFPL
Vaibhav Patel2024-03-18Good job done by legal suvidha for startup recognition certificate. They guide us so well at every steps. Recommending them for their services.
Account Department2024-03-18I recently applied for a Startup India certificate through Legal Suvidha, and I was thoroughly impressed by their professionalism. From the moment we initiated the process, we received proper guidance in every step. Saloni, one of the team member helped us very patiently and ensured a seamless procedure . Thanks to their team, that I obtained my certificate within few working days.
Shaks SHAKS Shaks2024-03-18Very sharp and accurate and professional Meter & Cents
Harry's s2024-03-12Great service, Their Team is really hard working and amazing experience with legal suvidha now i am going to continue for all the work regarding my private limited company.
Raghu G2024-03-06Good communication and got things quickly
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Here are some answers to potential questions that may arise as you start your business.
Register your business, obtain necessary licenses, and fulfill tax obligations.
Consider factors like ownership, liability, and tax implications to choose from options like sole proprietorship, partnership, or company registration.
Choose a unique business name, obtain required IDs like Director Identification Number (DIN), and file incorporation documents with the Registrar of Companies (ROC).
Obtain GST registration, trade licenses, and any industry-specific permits required to operate legally.
Maintain accurate financial records, file tax returns on time, and adhere to the tax laws applicable to your business.
Yes, startups in India can benefit from various government schemes offering tax exemptions, funding support, and incubation facilities.
Secure patents, trademarks, or copyrights to safeguard your intellectual assets from infringement or unauthorized use.
Challenges include navigating bureaucratic hurdles, complying with complex regulations, and competing in a crowded marketplace.
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