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REGISTRATIONS
PAN Application
A business PAN is a Permanent Account Number (PAN) required for businesses, organizations, and legal entities operating in India. It is essential for tracking business transactions, filing taxes, and ensuring compliance with Indian tax laws. Having a Business PAN is mandatory for registering a company, opening a bank account, and engaging in transactions above a certain limit. It serves as a unique identification number for the business under the Income Tax Department.
Benefits of Business PAN
1. Mandatory for Tax Compliance: PAN is required for filing income tax returns and fulfilling other tax obligations.
2. Enables Financial Transactions: PAN is necessary for large transactions like sales and purchases.
3. Facilitates GST Registration: Business PAN is required to register for GST and claim input tax credits.
4. Proof of Identity: PAN serves as proof of identity for business registration and verification.
5. Track Business Growth: The government uses PAN to monitor business transactions, ensuring transparency and accountability.
TAN Application
A Tax Deduction and Collection Account Number (TAN) is a 10-digit alphanumeric code issued by the Income Tax Department of India. It is essential for businesses and individuals who are required to deduct or collect tax at source (TDS or TCS) on payments such as salaries, rent, and professional fees. TAN ensures proper documentation and submission of tax deducted to the government, and it is mandatory for filing TDS returns.
Who Should Apply for TAN?
1. Businesses Required to Deduct TDS Ensure Compliance with TDS Regulations
All businesses that make payments subject to TDS, such as salaries, contract work, or professional services, must apply for a TAN. This ensures compliance with tax laws and prevents any penalties.
2. Government and Non-Government Organizations Comply with Tax Deduction Rules
Government bodies, non-government organizations, and public sector undertakings that are responsible for deducting tax at source must apply for a TAN to comply with the regulations.
3. Individuals Deducting Tax on Large Payments Manage Your Tax Obligations Easily
Individuals who are required to deduct TDS on large payments like rent, interest, or consultancy fees must apply for a TAN to ensure compliance with the law and avoid penalties.
4. Businesses with Multiple Branches Streamline TDS Across Branches
Organizations with multiple branches or subsidiaries must apply for separate TANs for each branch to properly deduct and file TDS for each location.
Our Process
1. Document Collection and Verification
We collect all necessary documents required for PAN/TAN application, such as identity proof, address proof, and proof of business registration.
2. PAN/TAN Application Filing
We file your PAN/TAN application with the Income Tax Department, ensuring that it is accurate and compliant with tax laws.
3. PAN/TAN Issuance
Once verified, we deliver your PAN/TAN, enabling your business to start deducting and depositing TDS as required by law.
4. Ongoing Compliance Support
We provide assistance for any modifications, reissuance, or queries related to your Business PAN/TAN and with ongoing TDS filings, ensuring your business remains compliant with all tax deduction requirements.
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Have questions? Ask us or find your answer here
Yes, a Business PAN is mandatory for opening a business bank account, as it serves as proof of identity for the entity.
Yes, foreign companies earning income or conducting business in India must obtain a Business PAN to comply with tax regulations.
The penalty for failing to apply for a PAN when required can be up to ₹10,000 under the Income Tax Act.
Yes, a Business PAN is required to register for GST, allowing businesses to claim input tax credits and comply with GST regulations.
Failure to apply for TAN when required can result in penalties under the Income Tax Act, including fines of up to ₹10,000.
Yes, you can apply for a modification of TAN if there are changes in your business’s name, address, or other details. We assist with this process.
No, each branch of a business must have a separate TAN to deduct and deposit TDS separately for each branch.
TDS returns must be filed quarterly, and businesses must deposit the deducted tax with the government within the specified deadlines.