Following Section 203A of the Income Tax Act, 1961 Form 49B, as per the Income Tax Act of 1961, is a required document to fill out if an individual seeks to obtain their TDS number. People who don’t have a TAN but use TDS deduction are likely to be penalized with a fine of Rs 10,000.
Therefore, the ability to fill out this form promptly is crucial. Another reason this form is crucial is since banks can deny the execution of transactions when the person paying is not an account number.
It is essential to ensure that accurate and complete information is entered on form 49B to avoid rejection.
TAN, also known as a tax deduction and collection account number an alpha number with 10 numbers. It is a number that must be obtained by every person accountable for tax deducting or collecting.
It is required to include TAN in any TDS/TCS return (including any electronic TDS/TCS return) and any payment made through TDS/TCS certificate and TDS/TCS challan. If you plan to be eligible for the TAN, the application to allot TAN has to be submitted in Form 49B.
It will then be presented at one of the Facilitation Centres to receive returns from e-TDS. Addresses of the TIN FC are available at www.incometaxindia.gov.in or http://tin.nsdl.com.
TAN is allocated to the Income Tax Department based on the form submitted at TIN Facilitation Centres operated by NSDL. NSDL will inform the TAN that will have to be included in all future correspondence related to TDS/TCS.
The documents do not have to be submitted in connection with the application to allotment of TAN. But, if the application is submitted online, the acknowledgment generated after completing the application form has to be sent to NSDL. The specific guidelines for this procedure can find on http://tin.nsdl.com.
If a duplicate TAN is allocated, the application can fill for the cancellation of the TAN, which was not utilized by filling out the “Form for Changes or Correction in TAN, which can download from the website of NSDL. (http://tin.nsdl.com) or printed using local printers or downloaded from other sources. The application is also accessible at the TIN Facilitation Centres.
If you have a duplicate TAN is assigned to you, this TAN is to be utilized. The TAN that is used frequently should be utilized. The rest of the TANs should surrender for cancellation using
Form for Changes or Correction in TAN, which can download from the website of NSDL (http://tin.nsdl.com).
- Form is to be filled legibly in ENGLISH in BLOCK LETTERS.
- While filling the form, each box, wherever provided, should contain only one character (alphabet/number/punctuation mark) leaving a blank box after each word.
- Left-hand thumb impression, if used, should be attested by a Magistrate or a Notary Public or a Gazetted Officer, under official seal and stamp.
- Deductors/ Collectors are required to provide details of the Assessing Officer (TDS /TCS) in the application. These details can be obtained from the Income Tax Office.
- The deductors/collector must fill up Area Code, AO Type, Range Code, and AO Number. These details can be obtained from the Income Tax office or TIN Facilitation Centre (TIN-FC) may assist in doing so.
- Form should be filled up completely.
- ‘Designation of the person responsible for making payment/collecting tax’ field is mandatory to fill up, wherever applicable.
- The address of the applicant should be an Indian address only.
TAN is required for every person because without it, Tax Deducted at Source (TDS) or Tax collected at Source (TCS) returns will not be acknowledged by TIN facilitation centres. Banks are not able to accept challans for TDS/TCS payments if the TAN number is not specified.
It is important to note that if you do not submit an application for TAN or do not provide the 10-digit alphanumeric code on specific documents such as TDS/TCS tax returns, eTDS/eTCS returns, TDS/TCS certificates, and TDS/TCS payment challans are subject to a penalty of Rs. 10,000.
Everyone who is required to deduct or collect taxes at the source for the Tax department is required to apply for and get 10 digits of the alphanumeric code TAN.
A Tan card shows the ten-digit alphanumeric number that anyone accountable for a tax deduction or collection must get. The Tax department assigns this number to taxpayers. The tax department allocates this specific number to taxpayers.
Additionally, it is important to know that lenders cannot take TCS or TDS documents if the TAN is not mentioned. Therefore, the absence of a TAN number on official documents could result in Rs10,000 as a penalty.
Thus, those required to deduct tax at the source or collect taxes have to acquire the TAN card. However, those required to deduct tax under sections 194IA, 194-IB, or 194M are not required to apply for TAN.
Before filling out the TAN request form, be aware of its different forms.
- Application for allotment of new TAN:
The application can be made online on the NSDL-TIN website or downloaded to submit offline. It asks for details like name, address, contact number, nationality, PAN, existing TAN etc. Applicants need to pay a TAN application processing fee of Rs. 65 (Rs. 55 as application charge + 18% GST).
- Application for change or correction in TAN data for allotted TAN:
If allotted, the change or correction form requires details like the 10-digit TAN, deductors category, name, address, nationality, and PAN. It also has rows to mention the changes/ corrections required.
Applicants need to prove the allotment of TAN by submitting a TAN allotment letter issued by the IT department or a printout of the TAN details. The fee charged for a correction application is Rs. 63 (plus service tax, as applicable).
You can visit the NSDL-TIN website to apply for TAN. An acknowledgement will appear on the screen at the time of confirmation of the correct uploading of the TAN allotment application.
If an applicant chooses the offline mode, s/he should visit the nearest TIN Facilitation Centre (TIN-FC) and submit the application in Form 49B in duplicate. The addresses of TIN-FC are given on the NSDL-TIN website.
You can submit your online application to the card using these instructions:
Check out the official website.
- Select the TAN option from the menu of services on the home page. Click on the ‘apply online’ option and choose the ‘new TAN.’ On the page redirected, select the appropriate class of deductors.
- The website now will direct you to fill out Form 49B.
- Fill out the form, then hit the submit option.
- The screen will show the 14-digit acknowledgment number as well as other information.
- Save this page and make an image of it to print.
- Additionally, this printout, along with the required documents, should be delivered to the address below: NSDL e-Governance Infrastructure Limited 5th floor Mantri Sterling Plot No.341, Survey No.997/98, Model Colony Near Deep Bungalow Chowk Pune – 411016.
- In the alternative, if you’re uneasy about making the TAN form online, you may go offline. But, then, the process remains the same. But, it would be best if you went to the TIN facilitation center near you. You can also request Form 49B at any TIN facilitation center and then fill it out.
- Deductors/Collector can obtain Form No. 49B in the format prescribed by Income Tax Department from TIN-FCs, any other stationery vendor providing such forms or freely download it from the NSDL website (www.tin-nsdl.com) or the Income Tax Department website (www.incometaxindia.gov.in)
- The fee for processing the TAN application to be paid to TIN-FCs is ` 55/- (plus service tax, as applicable).
- If the applicant has already been allotted a ten-digit alphanumeric TAN, it should not apply again as having or using more than one TAN is illegal. However, different branches/divisions of a deductors/collector may apply for separate TAN for each branch/division.
- If the deductors/collector has already been allotted TAN and wants any change in particulars (e.g. name, address etc.), it should fill up ‘Form for changes for Correction in TAN data for TAN allotted’ and submit the same at any TIN-Facilitation Centre.
- Deductors/Collector will receive an acknowledgement containing a 14-digit unique number from the TIN-FC on submission of Form No. 49B. This acknowledgement number can be used by the deductors/collector to track its application status.
- For more information, / application status enquiry – Visit us at www.tin-nsdl.com – Call TIN Call Centre at 020-27218080. – e-mail us at email@example.com – SMS NSDLTAN acknowledgement no. & send to 57575 to obtain application status. – Write to National Securities Depository Limited, 3rd Floor, Sapphire Chambers, Near Baner Telephone Exchange, Baner, Pune – 411 045.
Form 49B is a long application form consisting of various types of information. Listed below are the form contents that need to be filled out and submitted.
- The first section details the particulars about the office name, the type of government it falls under, the address of the office, designation of the person who will make tax payments on behalf of the entity, company branch, division of the company, information on whether the TAN is in the name of HUF (Hindu Undivided Family) or individual and so on.
- Second section deals with the address of the entity. It includes the complete address details like block number, street number, area code, state, town, city etc.
- The third block of information is about the nationality of the deductors.
- The Permanent Account Number of PAN is to be mentioned in this section if applicable.
- The existing Tax Deduction Number is to be filled in in this section.
- The existing Tax Collection Number is to be filled in in this section.
- The date on which the form is being submitted is the next piece of information.
- In the end, the person filling out the form and applying has to fill in their details to verify that the information mentioned above is true to the best of their knowledge.
In the end, the applicant has to sign the form or put their thumb impression to verify the form’s contents.
Acknowledgment receipt printout via NSDL website if you’ve completed the form online. If you submit the form in person, there are no additional necessary documents that must submit.
For TAN enrolment, no specific document or identification proof is required. However, obtaining a TAN Form 49B must be completed and submitted. The procedure for registering is explained below:
- It is necessary to fill out and submit form 49B online. You can also mail the completed form 49b to any TIN Facilitation Center of NSDL. It’s simple to fill out the form online.
If you find any data you have entered incorrectly, make it right and submit it online.
- A confirmation window will pop up, and it will ask for your signature.
- After confirming the required information on form 49B, an Acknowledgement Receipt is issued. It comprises the names of the person applying and the applicant’s current status, 14 numbers for Acknowledgement, contact information, payment information, and a signature space.
- The payment for the nominal amount has been made to fill out Form 49B via Demand Draft, Cheque or Credit/Debit Card, or Net Banking.
- Demand Drafts must be in favour of NSDL or TIN. TIN,
- Demand Draft must pay at Mumbai. It must be made payable to the at the address of NSDL at NSDL e-Governance Infrastructure Limited 5 5th Floor Mantri Sterling, Plot
No. 341 Survey No. 997/8 Model Colony, Near Deep bungalow Chowk, Pune- 411016
- After successful payment with Credit/Debit Card/ Net Banking, the acknowledgment receipt appears. The person making the payment must save this receipt print it. And then forward this to the NSDL facilitator center.
- Your Acknowledgement, along with demand drafts, if there is one, must reach NSDL within 15 days of the date of your online application.
- Should they wish to, the applicants can track how they are doing with their TAN with the 14 acknowledgment numbers in digits on the website whenever they need to.
- New applications are free. Costs are in the amount of. 65. If your application is denied because of discrepancies, there is no way to be reimbursed.
- It is required for all assessors to collect TAN, which is required to take deductions of TDS. If assessors do not obtain the TAN, they could be subject to Rs. 10,000/-
The information provided in this document is generic and is intended for educational purposes only. This information should not be considered an investment, financial, or tax advice or as an offer or an offer to purchase any investment product.