Hello experts,
TAN is required for branches/divisions having different Jurisdictional locations, which I am sure. But would that be compulsory in case if books of accounts maintained by HO in another jurisdiction already having TAN?
Assuming payment is not done by the branch in another location which has operational bank account locally.
What is the intention of IT dept. to issue TAN account jurisdiction basis?
TAN has to be taken for each state wise
If no Financial Transaction in the Branches and all Payments are effected only in HO, Then No TAN is required for Branches
Thank you ragavan sir. My view was also the same. But What is the intention of IT dept. to issue TAN account jurisdiction basis?
For ex. a branch/shop in different jurisdiction (even in same state), may have deposit their selling proceeds at the local bank account. & lets assume payments are done by branch, but books of accounts maintained by HO.
In such case, should they have separate TAN? (since financial Transactions are there, but no books of accounts)
TAN is Not issued by the Income Tax Department by itself. It is allotted on Application in From 49B. Hence, the Branches which are not liable to TDS need not apply. The ITD is not insisting that all Branches to obtain TAN
Oke. TAN may be issued by whatever agency of IT dept..
Clarity is: Payments effected by branches subject to TDS, are required TAN Number separately, irrespective of separate books of accounts or not?
is it mandatory to take seperate tan for each branch or division????
Is there any circular for it
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