TAN is the acronym of 10 digits alphanumerical characters (a combination of numerical, punctuation and alphabets) for Tax deduction account number. Any person practicing deduction of tax must have TAN number as a proof of tax deduction and submission. It is mandatory to mention this number on form 16/16A and TDS.
Purpose:
- Maintains transparency between person/organization deducting tax and income tax department.
- Tax department keeps a track on has deducted TDS of the employee / payee.
- Keeping a track of, for refund purpose, whose TDS has been deducted.
Note- You can find the TAN number mentioned on your Form 16/ 16A.
Comments
1 comment
None of the tax or investment blogs or websites provide such details about TAN and its purpose.well done allindia ITR team
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