M.Shanmugasundaram (Accounts) (234 Points)
01 September 2016Dear Sir,
1) What is the TAN Applicable Turnover Limit for individuals (Proprietorship) in FY 2016-17..?
2) What is the TAN procedure for Multiple Business running by individuals..?
Thanking You,
Regards,
M.Shanmugasundaram
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160886 Points)
Replied 01 September 2016
1. Not based on turnover criteria. If liable to deduct tax under any provision, TAN must be applied for. (However in case of payments made under sec. 194A, 194C, 194H, 194I and 194J in respect of individual and HUF, only if it was liable to tax audit in previous year)
2. For properietor, you can have different TAN for multiple businesses. (In case an Individual/HUF wants to obtain separate TANs for different businesses being run by him/her/it, 1(f) category in filling form 49B, will be applicable. The name of the concern should be filled in the field for Name/Location of Branch.)
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