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The full form of TAN is Tax Deduction and Collection Account Number. TAN is issued by the IT Department in India under the Income Tax Act 1961, to those individuals and companies who are required to deduct or pay tax on the payments made by them.Moreover, the Section 203A has made it mandatory to individuals to provide TAN in all the challans, and TDS returns made.That is, TAN account number is used to pay tax. Without the details it is not possible to pay tax. Keep reading to know more about the TAN full form.
TAN Full Form: Format
The TAN full form is Tax Deduction and Collection Account Number. It is a 10 digit alphanumeric number The first 3 numbers of TAN represent a city, and the 4th letter is the taxpayer’s initials. However, what makes the TAN unique is the next 5 numbers and the last letter. For example, NGP002911G.
Types of TAN Applications
There are mainly two types of TAN applications. It includes the following: The processing fee for TAN applications in INR 64:
- The form to change or correct allotted TAN
- Application to issue a new TAN
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How to apply for TAN
The TAN application process includes the following:
- First, fill the form number 49B.
- Next, attach documents such as identification proof, and residential proof
- Submit the details to the NSDL website or Tax information network facilitation center.
- After receiving the form, the NDSL would verify the details and forward the application form to the income tax department of India.
- The Income tax department is responsible for approving the application
- Next, a unique TAN number is sent to the NDSL department
- Finally, the NDSL would inform the applicant about the TAN
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