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PAN, TIN, and TAN – Know About These Terms in Easier Ways

 TAN, TIN, and/or PAN – these terms generally confuse us most of the time. We come across these terms when we get to file income tax returns every year. If you are one of those who get confused with these terms before filing your ITR, you can certainly contact CA Chandan Agarwal & Co in Kolkata at your earliest. A professional accountant or chartered accountant can better make you understand these terms. Still, if you want to acquire basic knowledge on TAN, TIN, and PAN, we request you to go through the blog in full. It will take only 2 minutes for you. 


What are TAN, PAN, and TIN?

  • PAN: More or less, everyone today is known by the term PAN. The full form of PAN is Permanent Account Number. Every taxpayer needs to have a 10-digit PAN card. The card is issued by the Income Tax Department of India under section 139A and the income tax act 1961. The number is used for various financial transactions in India. To fill ITR and claim depreciation, a taxpayer in India must have this card. 

  • TIN: The full form of TIN is Tax Identification Number. Commercial Tax Department, irrespective of the state you belong to issues the card for business entities. The number is used to register your business under VAT. If you have started your business then you need to apply for the TIN to pay VAT. 

  • TAN: TAN is Tax Deduction and Collection Account Number. Business, individuals, and organizations who claims TDS or TCS are identified via the TAN number. Every document related to TDS or TCS needs to engrave with the TIN for reference. To register for TAN, an individual or entity needs to fill 49B form online or offline. 

Summing Up, 

If you have faced any difficulties claiming or paying tax with TAN, PAN or TIN then you should call for expert advice. CA Chandan Agarwal & Co is always there help to individuals and businesses. 

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