Wednesday, 13 January 2010

How to get a PAN and TAN

How to get a Permanent Account Number  or PAN
PAN is crucial when filing your income tax as it is mandatory to mention it when you file a return. In fact now it has become so mandatory that you need it while doing a heavy cash deposit in banks or even  while opening a new bank account.
You can get a PAN from an authorized franchise or  agent as appointed by National Securities Department Ltd or the Unit Trust  of Indian Investors Services Ltd. To apply for PAN you will need to fill in form number 49A to one of these services center or ask  the authorized agent to give on behalf of you.
You will have to give documents like Proof of Address, Proof of Personal Identity which could be your passport. In case you are doing it for a company  you will need give a a certified copy of the certificate of registration, proof of your company address also.
Related : How to verifiy validity of PAN
How to get a TAN or Tax Account Number
TAN  or  Tax Account Number is required if you are going to deduct income taxes at source for example an employer deduct certain amount of his employee’s salary which is called a TDS or Tax Deducted as Source. Under the Income Tax act, any company or person collecting or deducting tax at source must apply for TAN.
To apply for TAN you will have to fill in form no 49B where you can apply for Individual level or for company level. The form should be submitted at any TIN ( Tax Information network ) Facilitation center that is authorized to receive e-tds returns.
Find more information on Income tax India, UTI ISL and TIN

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