{"id":4256,"date":"2018-05-22T14:23:04","date_gmt":"2018-05-22T08:53:04","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=4256"},"modified":"2019-09-25T12:43:30","modified_gmt":"2019-09-25T07:13:30","slug":"difference-between-tin-and-tan","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/difference-between-tin-and-tan\/","title":{"rendered":"Difference between TIN and TAN"},"content":{"rendered":"

What is TAN?<\/h2>\n

TAN is short-form for Tax Deduction and Collection Account Number. TAN is a unique ten-character code that is assigned to entities that are eligible for collecting TDS or tax on behalf of the Income Tax Department. TAN is required for furnishing TDS details collected by any entity. Examples of such entity include corporates, offices that deduct tax on behalf of tax department.<\/p>\n

TAN is mandatory for such entities under section 203A of the\u00a0Income Tax<\/a> Act\u00a0, 1961 and not quoting the same while filing TDS is subject to a penalty of Rs.10,000 as per section 272BB of the act.<\/p>\n

What is TIN?<\/h2>\n

TIN or Tax Identification Number is a unique 11 character identification number that is allotted to all taxpayers registered under VAT for sale of goods and services. Like individuals, all business enterprises too are required to file their taxes. The way PAN is required for any tax transaction handled by individuals, TIN is required by business enterprises. Quoting of\u00a0TIN\u00a0is mandatory for filing of taxes by a business enterprise. Failing to do so may attract penalty similar to how it is done for PAN.<\/p>\n

Major Points of Difference between TIN and TAN:<\/h2>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
PARAMETER<\/strong><\/td>\nTAN<\/strong><\/td>\nTIN<\/strong><\/td>\n<\/tr>\n
Issuing Agency<\/strong><\/td>\nIncome Tax Department of India<\/td>\nCommercial Tax Department of the applicant\u2019s state<\/td>\n<\/tr>\n
Purpose<\/strong><\/td>\nStreamline deduction and collection of tax at source<\/td>\nTrack VAT related activities in the country<\/td>\n<\/tr>\n
Form to be used for Application<\/strong><\/td>\nForm 49B<\/td>\nForms vary for different states<\/td>\n<\/tr>\n
Code type<\/strong><\/td>\nAlphanumeric code of 10 characters<\/td>\n11 digit numeric code (where the first 2 digits signify the state of the applicant)<\/td>\n<\/tr>\n
Structure of Code<\/strong><\/td>\nTAN is composed of 4 alphabets, followed by 5 numbers, with an alphabet as the last character<\/td>\nTIN is composed of 11 digits only<\/td>\n<\/tr>\n
Who should have it<\/strong><\/td>\nAny entity that is eligible to deduct TDS on behalf of the Income Tax Department<\/td>\nAny enterprise that is liable to pay Value Added Tax or VAT<\/td>\n<\/tr>\n
Sections of IT Act which account for it<\/strong><\/td>\nSection 203A of Income Tax Act of 1961<\/td>\nDifferent states have different Acts under which TIN is applicable<\/td>\n<\/tr>\n
Fines\/Penalties Applicable<\/strong><\/td>\nPenalty of Rs. 10,000 may be levied<\/td>\nPenalties vary according to state<\/td>\n<\/tr>\n
Documents Required to Apply<\/strong><\/td>\nNone. Only form 49B needs to be filled and submitted<\/td>\nProof of registration, PAN, ID proof of owner, etc. (documents may vary depending on state)<\/td>\n<\/tr>\n
Maximum number of TAN\/TIN that can be owned by an entity<\/strong><\/td>\nOne<\/td>\nOne<\/td>\n<\/tr>\n
Cost of Application<\/strong><\/td>\nRs.55 plus service tax<\/td>\nVaries according to state<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

What is TAN? TAN is short-form for Tax Deduction and Collection Account Number. TAN is a unique ten-character code that is assigned to entities that are eligible for collecting TDS or tax on behalf of the Income Tax Department. TAN is required for furnishing TDS details collected by any entity. Examples of such entity include … Continue reading “Difference between TIN and TAN”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-4256","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\r\nDifference between TIN and TAN - Antworks Money<\/title>\r\n<meta name=\"description\" content=\"TAN is short-form for Tax Deduction and Collection Account Number. 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