Is there is tan no applicable to partnership firm?

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vivek khandagale (Querist)
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17 December 2014 Hi,
I want to know whether TAN no is applicable to partnership firm (Restaurant)?
Just started new Restaurant & paying rent of Rs.75000/pm.

shivaji prasad bhimavarapu

shivaji prasad bhimavarapu (Expert)
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17 December 2014 Yes.It applies to Partnership firms whether the turnover exceeds Rs.1 crore or not.Obtain TAN in applying with Form 49B.Deduct 10% of TDS on rent as rent per annum is going to exceed Rs.1,80,000/.Deduct on entire rent amount from the beginning.File quarterly TDS returns within time else you will be paying Rs.200/- per day penalty.

Rupesh Jain

Rupesh Jain (Expert)
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18 December 2014 on partner ship firm tds applicable from first day . you have to apply for tan and also deduct the tds as per income tax act. apply on form 49B.

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