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Tarun Kumar G

Tarun Kumar G (Querist)

21 August 2014 When should a individual apply for TAN and what is the turnover limit?

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)

21 August 2014 Dear Tarun,

TAN is required only if assessee is liable to deduct tax.

Tarun Kumar G

Tarun Kumar G (Querist)

21 August 2014 Sir,

Thank you,

sorry my question was little unclear,

when a individual assessee is liable to deduct tax for any payments he is making, he needs to apply for TAN,

i am in a confusion that when an individual assessee should apply for TAN?

1.is it at the time when his gross receipt crosses certain limit in previous financial year

2. or immediatly after crossing gross receipt,

3. what is the gross receipts limit?

Rupesh Jain

Rupesh Jain (Expert)

21 August 2014 if you take audit report on your account u/s 44AB due to your turnover was in last year Rs. 100 lacs or more then you can apply for TAN due to in current year you are liable to deduct the TDS on payment.

suppose in 2013-14 your turnover is rs. 100 lacs then you have to Tan apply in FY 2014-.15

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