TAN Registration & TDS Filing

  • TAN (Tax Deduction and Collection Account Number): TAN is a 10-digit alphanumeric number required to be obtained by all persons who are responsible for deducting tax at source (TDS) or collecting tax at source (TCS). This number is mandatory for filing TDS/TCS returns.
  • TDS (Tax Deduction at Source): TDS is a system where tax is deducted at the source of income itself. It is applicable to various kinds of payments like salary, interest, rent, commission, etc. The person or entity making the payment is responsible for deducting a certain percentage of tax before making the payment.

    • Those who need to deduct TDS include employers, companies, individuals, and entities making specified payments.

  • TDS Filing: This refers to the process of submitting TDS returns to the income tax department. It involves providing details of the deductions made, the recipients, and the amounts deducted. This needs to be done periodically.

    • If someone needs assistance with TDS filing, they can contact "Complete Accounting Solution" at the provided phone number (9809604122) for help with their TDS-related needs.