01 November 2012
TIN No. is used by the assesees who deduct tds. It is an identification no. issued to them by the income tax department, just like pan. It is used for many purposes e.g in TDS certificates, Tds returns etc.
* **TIN** stands for **Taxpayer Identification Number** under VAT (Value Added Tax) laws. * It is a unique identification number issued by the **State Commercial Tax Department** (not Income Tax department). * It is primarily used for **VAT/CST** purposes, to track a dealer’s sales and purchases of goods within and outside the state.
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**Why do we need a TIN Number?**
* To legally conduct business involving sale and purchase of taxable goods. * To **file VAT returns** and pay VAT/CST. * To claim **input VAT credit** on purchases. * To issue **VAT-compliant invoices** mentioning the TIN. * To avoid **tax withholding** or issues with suppliers and customers who may require your TIN for their compliance.
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**TIN vs TDS TAN:**
* TIN is NOT the same as TAN (Tax Deduction Account Number) used for TDS (Tax Deducted at Source). * TIN is for VAT/CST, TAN is for Income Tax TDS.
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**Can TIN be transferred from one person to another?**
* **No**, TIN is specific to the registered dealer or business entity and **cannot be transferred or assigned** to another person or business. * If the business is sold or ownership changes, the new owner must apply for a **fresh TIN registration**.