TAN IS REQUIRED FOR PARTNERSHIP FIRM OR WHY?

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Yes, a Tax Deduction and Collection Account Number (TAN) is mandatory for partnership firms. It's required for remitting Tax Deducted at Source (TDS) and for filing TDS returns. Partnership firms must obtain a TAN if they make payments that attract TDS, regardless of their turnover, to comply with tax regulations.

Aniruddha Telkar

Aniruddha Telkar (Querist)
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10 September 2020 Please give suggestion TAN IS REQUIRED FOR PARTNERSHIP FIRM OR WHY?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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10 September 2020 Yes TAN is required for partnership firm for TDS remittance and for TDS return filing.
TDS applicable for the firm when payment exceed threshold.

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PARAS CHHAJED

PARAS CHHAJED

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11 September 2020 Except Individuals and HUFs all other entities are required to comply to TDS provisions irrespective of their turnover and therefore partnership firm must have TAN if any payments made by it attract TDS. TAN is mandatory to deposit TDS / TCS and to file TDS returns.

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