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When should a partnership firm apply for tan

John JRP (Accounts) (107 Points)

10 March 2015

This is a partnership firm. when should we apply for TAN no ?

Can anyone tell me ?

regards

John

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4 Replies

Deepak Gupta (CA Student) (15922 Points)
Replied 10 March 2015

Within one month from the end of the month in which tax was deducted.
.
- Rule 114A of the Income-tax Rules, 1962.

Vishal Goel (Chartered Accountant) (1688 Points)
Replied 10 March 2015

Hello,

Persons who are liable to deduct TDS must apply for allotment of ‘TAX DEDUCTION AND COLLECTION ACCOUNT NUMBER’ (TAN) in form No. 49B within one month from the end of the month in which tax was deducted. TAN is mandatory to mention on all transaction related to TDS like TDS certificate, TDS Returns and other related documents. There is penalty of Rs. 10,000 on failure to apply TAN.

Vishal Goel (Chartered Accountant) (1688 Points)
Replied 10 March 2015

For any queries regarding TAN number, the assessee shall contact the TIN SUPPORT DESK at 022-24994650 or at tininfo @ nsdl.co.in

Sumit Jain (Accountant) (21 Points)
Replied 13 March 2015

A Partnership firm failed to apply for TAN Number and had paid the rent of Rs. 80000/- per month (including TDS) to the Rentlord for his shop for first 8months of its incorporation.

Is it liable for any panenlty and how much.

Please Help