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TAN whether necessary

T.N.REDDY (M.Com) (223 Points)

10 January 2024

sir. one of my client purchased a property value more than of Rs. 50,00,000, hence, TDS is to be deducted u/s. 194 IA and TDS returns are to be filed, hence do we have to take TAN, kindly clarify

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6 Replies

Sharath chandra (Accountant) (1215 Points)
Replied 10 January 2024

Who did he take our from? NRI or resident?

if from resident, no need of tan number.

T.N.REDDY (M.Com) (223 Points)
Replied 10 January 2024

From NRI sir

Sharath chandra (Accountant) (1215 Points)
Replied 10 January 2024

Yes tan is must. and he has to deduct at specified rates. and not at 1 percent.

David (article Assistant) (1639 Points)
Replied 11 January 2024

There is no need to take TAN. you can directly pay tds

VIRAAJ VASHISHTH (81 Points)
Replied 13 January 2024

Tax Deduction/Collection Account Number (TAN)

In the realm of taxation, every individual and entity plays a significant role in ensuring compliance with tax laws. Tax Deduction/Collection Account Number (TAN) is one such crucial identification code used by businesses and individuals responsible for deducting or collecting taxes on behalf of the government.

How to Apply for TAN?

Applying for TAN is a straightforward process. The application can be made online through the official website of the Income Tax Department or through authorized TIN Facilitation Centers (TIN-FCs). Here are the steps to apply for TAN:

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