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Permanent Account Number (PAN)


Permanent Account Number (PAN) is a unique ten-digit alphanumeric number.

It is mandatory to quote PAN on return of income, all correspondence with any income tax authority. From 1 January 2005 it is mandatory to quote PAN on challans for any payments due to Income Tax Department.

It is also compulsory to quote PAN in all documents pertaining to financial transactions notified from time-to-time by the Central Board of Direct Taxes. Some such transactions are sale and purchase of immovable property or motor vehicle or payments in cash, of amounts exceeding Rs. 25,000/-to hotels and restaurants or in connection with travel to any foreign country. It is also mandatory to mention PAN for obtaining a telephone or cellular telephone connection. Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/- with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank.

All tax deductions at source for various receipts shall attract a higher rate (20%) if you donot have a PAN, with effect from 01 April 2010.

Tax Deduction Number (TAN)


TAN is the registration number of the company under the Income Tax authorities. It is the number quoted every time the company does any transaction relating to withholding tax, The TAN Number can be applied online as well as off line. Following are the documents required to get the PAN Number.

TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. It is compulsory to quote TAN in TDS/TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan and TDS/TCS certificates.

All those persons who are required to deduct tax at source or collect tax at source on behalf of Income Tax Department are required to apply for and obtain TAN. If you are paying a salary, or making payments for variety of purposes like consultancy fees, rent, contractual payments etc. the tax should be deducted at source and paid to income tax department.

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