A tax deduction and collection account number (TAN) is required to be applied for in India for
companies that have to deduct or collect tax where tax is levied on various payments as per the Income
Tax Act, 1961. TAN is unique – A digital alphanumeric code issued by the Income Tax Department, and is
a number that identifies the deposit with the government after tax deduction at source (TDS) or tax
collection at source (TCS). 

To apply for TAN in India, companies have to file Form 49B online through
NSDL (National Securities Depository Limited) or UTIITSL (UTI Infrastructure Technology and Services
Limited) portals or by physically submitting the form at TIN office on the specified areas. Along with the
application form, organizations are required to provide information such as their business name,
address, PAN (Permanent Account Number), mode of withdrawal or collection, identity of the
responsible person, address and evidence for. 

Once the application is submitted and the information
provided is verified, the Tax Office issues a unique TAN to the company and issues a TAN certificate. This
certificate contains information such as TAN number, company name and address, and is important for
filing TDS/TCS returns, posting tax deductions or credits, and complying with regulatory requirements
Companies with TANs have to comply with various obligations, including deduction of TDS or collection
of TCS at the correct rate, submission of TDS/TCS returns at all times, issuance of TDS/TCS certificates a
cancellation and maintenance of proper records to fulfill TAN-related obligations under the Income Tax
Act Penalties and legal consequences may be attracted under. Thus, acquisition and maintenance of
TAN for organizations.