Pan number and tin number

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This query is : Resolved

Alok Kumar (Querist)

17 June 2015 I would like to that why does organisations have both PAN number and TAN number ? Is it sufficient to have TAN number and not PAN Number ?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)

17 June 2015 It is mandatory to quote PAN on return of income, all correspondence with any income tax authority and challans for any payments due to Income Tax Department.

It is also compulsory to quote PAN in all documents pertaining to economic or financial transactions notified from time-to-time by the Central Board of Direct Taxes.

All those persons who are required to deduct tax at source or collect tax at source on behalf of Income Tax Department are required to apply for and obtain TAN.

TAN is required to be quoted in all TDS/TCS returns, all TDS/TCS payment challans and all TDS/TCS certificates to be issued. TDS/TCS returns will not be received if TAN is not quoted and challans for TDS/TCS payments will not be accepted by banks.

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