Indemnity Bond for Surrender of TAN

Hi Vaib,

Here’s a simple Indemnity Bond format for surrendering TAN that you can use to submit to the department:

INDEMNITY BOND

This Indemnity Bond is executed on this ___ day of __________, 20 by [Your Company Name], having its registered office at [Address], represented by [Name and Designation of Authorized Person] (hereinafter called the “Indemnifier”).

Whereas, the Indemnifier had obtained a Tax Deduction and Collection Account Number (TAN) [TAN Number] for deducting tax at source.

And whereas, the Indemnifier has applied for surrender of the said TAN due to closure of business.

Now this Indemnity Bond witnesseth as under:

1. The Indemnifier hereby undertakes to indemnify and keep indemnified the Income Tax Department and its officers from and against all actions, proceedings, claims, demands, losses, damages, costs, charges and expenses which the Income Tax Department may incur or suffer on account of any demand, penalty, interest or any other liability that may arise in respect of the said TAN.

2. The Indemnifier agrees to comply with all obligations and to settle any demand raised by the Income Tax Department related to the TAN being surrendered.

3. This bond is binding on the Indemnifier and its successors.

In witness whereof, the Indemnifier has signed this Indemnity Bond on the day, month and year mentioned above.

For [Your Company Name]

(Signature & Name of Authorized Signatory)
Designation: ____________
Seal of the Company

Witnesses:

Name & Address: ____________

Name & Address: ____________