How can You Change the TAN Number Online?

TAN, or Tax Deduction and Collection Account Number, is a unique 10-digit code allocated by the Income Tax Department of India. TAN is for individuals who can collect Tax Collected at Source (TCS) and Tax Deducted at Source (TDS) on behalf of the IT department. As such, any TCS or TDS certificate should mandatorily carry the TAN details.

As per the recent regulations, the Ministry of Corporate Affairs also started issuing TAN details while allotting company registration certificate, ensuring a streamlined tax collection and deduction process.

The entire process is online, providing a quick and simple TAN application form fill-up, submission and approval. Moreover, one can also change their TAN details online in case there is any update or discrepancy.

Let’s take a look at the step by step process of changing TAN details.

How to change TAN particulars

Online revision of TAN details is a simple and time-saving process, easily completed through the submission of TAN application form for changes/correction in TAN data. However, the applicant has to pay a one-time fee (Rs.65) for the alteration of information, which is non-refundable.

They will also have to submit documents like TAN change request form, copy of existing TAN details, and the acknowledgement slip. The application will be accepted if only the proof of payment, as well as the acknowledgement slip, is submitted within 15 days of online application.

Here are the steps necessary to apply for a modification in the details:

  1. Navigate to the official website, the NSDL e-Gov-TIN portal, and download the TAN application form for change request. It will be categorised under the ‘Online Application for Changes/Correction in TAN Data’.
  2. Provide the necessary information in the downloaded form. Also, provide the details you need to correct from the existing TAN account. The new details will go through verification once the form is submitted. Applicants will be notified for successful verification with a confirmation message, while any discrepancy will be informed via an error message.
  3. After successful submission, applicants will have to pay the one-time correction fee. One can pay it using net banking, credit or debit card, demand draft, or cheque.
  4. After the payment is complete, applicants receive a 14-digit acknowledgement number. They should save this acknowledgement slip for future reference.

Once all the above-mentioned steps are complete, one will have to submit the necessary documents along with the signed receipt of acknowledgement.

Applying for TAN Number

Registering for TAN number involves a hassle-free online process that an applicant can complete in no time. Form 49B acts as the TAN application form that one can collect from the nearest biometric-enabled TIN facilitation centre.

Individuals looking to know how to apply for TAN should go through the following steps:

  1. Navigate to the official website of NSDL and fill up Form 49B. Carefully confirm that all details provided in the TAN application are accurate. After that, you can submit the application form.
  2. Post-submission, an acknowledgement receipt will be generated carrying a 14-digit acknowledgement number, applicant’s personal details and details regarding fee payment. Applicants should save this slip for future reference.
  3. A one-time payment of Rs.65 (Rs.55 as application charge along with 18% GST) will be levied while applying for TAN. You can make the payment with demand draft, cheque, credit or debit card, as well as net banking.
  4. Once the payment is complete, the applicant will have to send their signed acknowledgement form, documents required for TAN application, as well as confirmation of payment to the office of NSDL for completing the process.

TAN is an essential document for individuals who have to collect TCS or TDS. It is necessary for business owners to know about professional taxes and TAN details to better manage their finances.

Moreover, it will also be necessary when finding common options for financing of small businesses. Organisations often avail financing in the form of short-term and long-term advances to meet their funding needs related to expansion, growth and efficient day-to-day operation.

Several financial institutions offer high-value business loans to eligible applicants. Lenders like Bajaj Finserv even provide pre-approved offers, which simplify the application process and help an applicant save time.

TAN has helped introduce a standardised system, allowing the Central and State Government to collect necessary taxes easily. Through the online application and correction process, businesses and individuals can apply for TAN without worrying about time-consuming procedures.

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