PAN, TAN Registration Services
Apply for PAN and TAN to meet taxation requirements. We guide you through the process to ensure timely issuance, for seamless tax filing and TDS compliance for your business.
In India, managing financial operations requires compliance with key regulations, which begins with obtaining a Permanent Account Number (PAN) and a Tax Deduction and Collection Account Number (TAN). And these identifiers are important for individuals, businesses, and entities to meet their tax obligations under the Income Tax Act, 1961.
What is PAN?
PAN (Permanent Account Number) is a unique 10-character alphanumeric identifier issued by the Income Tax Department of India. It is primarily used to:
- Track financial transactions.
- File income tax returns.
- Facilitate high-value financial dealings.
- Link with bank accounts, mutual funds, and other investment platforms.
What is TAN?
TAN (Tax Deduction and Collection Account Number) is a 10-digit alphanumeric code mandatory for entities responsible for:
- Deducting Tax at Source (TDS).
- Collecting Tax at Source (TCS).
- Filing TDS/TCS returns.
Both these PAN and TAN are important for tax compliance and maintaining transparency in financial dealings.
- PAN and TAN registration is governed under Sections 139A and 203A of the Income Tax Act, 1961, respectively.
- PAN is necessary for individuals and entities conducting taxable financial transactions.
- TAN is required for entities managing TDS or TCS obligations.
Why Choose Benchmark
We at Benchmark provide you with accurate, and efficient PAN and TAN registration services. With our expertise in compliance and tax-related processes, we ensure that your registration journey is smooth and error-free. Our solutions are made to meet the diverse needs of individuals, startups, and established businesses, ensuring compliance with the provisions of the Income Tax Act, 1961.
- Hassle-free PAN and TAN application filing with end-to-end support.
- Expert verification of documents for compliance with statutory requirements.
- Easy processing for faster issuance of PAN and TAN.
- Real-time updates and tracking of application status.
- Assistance in linking PAN with Aadhaar and other compliance needs.
- Dedicated support for filing TDS/TCS returns post-registration.
- Experience in handling complex cases, including corrections and updates.
Our Services
At Benchmark, we offer a range of services to serve every aspect of your PAN and TAN registration. Our approach ensures precision, compliance, and efficiency, aligning with the latest regulatory requirements under the Income Tax Act, 1961.
Our Service Offerings for PAN and TAN Registration Include:
- Advisory on PAN and TAN application requirements, eligibility, and compliance with Section 139A and Section 203A.
- Assistance with bulk PAN and TAN registration for large businesses or enterprises.
- Application support for specialised PAN categories such as Foreign Companies, NRIs, Trusts, and HUFs (Hindu Undivided Families).
- Correction and re-issuance of PAN/TAN for rectifying discrepancies in issued identifiers.
- Support for TAN-based e-filing of TDS/TCS returns and facilitation of TDS/TCS payments.
- Guidance on the selection of appropriate PAN and TAN forms such as Form 49A and Form 49B.
- Customised advisory for seamless integration of TAN with accounting and payroll systems.
- Post-registration services, including TAN cancellation and updates for address or contact information.
- Assistance with duplicate PAN/TAN retrieval and resolving cases of multiple PANs.
- Dedicated services for international businesses operating in India requiring PAN/TAN for regulatory compliance.
Documents Required for PAN, TAN Registration
Proper documentation is essential for the successful submission and processing of PAN and TAN applications. Here is the list of essential documents for the PAN, TAN registration in India.
Documents Required for PAN Registration
- Proof of Identity (Aadhaar Card, Voter ID, Passport, or Driving License).
- Proof of Address (Utility Bills, Bank Statements, or Rent Agreement).
- Proof of Date of Birth (Birth Certificate, Matriculation Certificate, or Passport).
- Passport-sized photograph (for individual applicants).
- Certificate of Incorporation (for companies).
- Trust deed or Partnership deed (for Trusts and Partnerships).
- PAN application form (Form 49A or Form 49AA for foreign entities).
Documents Required for TAN Registration
- Business registration certificate (e.g., Certificate of Incorporation, GST Registration).
- Proprietor's or Director's PAN card copy.
- Address proof of the business (Utility bill, Lease agreement).
- TAN application form (Form 49B).
- Copies of TDS/TCS returns (if applicable).
Step-by-step Registration Process
At Benchmark, we simplify the process of obtaining PAN and TAN by providing structured and professional support at every stage. Here is the step by step registration process to simplify your PAN, TAN registration:
Step 1: Determine the Type of Application
The first step is to identify the type of application required. PAN applications can vary for individuals, businesses, and foreign entities, while TAN applications are mandatory for entities deducting or collecting taxes at the source. Ensure you choose the correct form, Form 49A for Indian applicants, Form 49AA for foreign entities, or Form 49B for TAN registration.
Step 2: Gather the Required Documents
Next step is to collect all the necessary documents based on the applicant type. For PAN, these typically include proof of identity, address, and date of birth. For TAN, ensure you have the business registration certificate and the proprietor's or director's PAN card. Proper documentation ensures your application is complete and compliant with regulations.
Step 3: Complete the Application Form
Fill out the relevant application form with accurate information. Details such as name, date of incorporation, communication address, and tax jurisdiction code must match the official records. Errors or discrepancies in the form can lead to delays or rejections, so double-check all entries before submission.
Step 4: Submit the Application
Submit the completed application along with the required documents to the designated authority. Applications can be submitted online through the NSDL or UTIITSL portals, or physically at authorised centers. Online applications often require digital signature certificates (DSC) or Aadhaar-based e-signatures for verification.
Step 5: Payment of Application Fees
Pay the applicable fees for PAN or TAN registration. The fee structure varies based on the mode of application and the applicant's nationality (Indian or foreign). Ensure you retain the payment receipt, which serves as proof of submission.
Step 6: Verification by Authorities
Once submitted, the application undergoes verification by the Income Tax Department. They check the authenticity of the documents and details provided. This step may include a request for additional information or document re-submission if discrepancies are found.
Step 7: Issuance of PAN or TAN
Upon successful verification, the PAN or TAN is issued. For PAN, a physical card is dispatched to the applicant's address, and an e-PAN is emailed for quick access. TAN does not have a physical card; instead, the number is communicated electronically and must be used in all tax-related filings.
At Benchmark, we manage this entire process for you, ensuring accuracy and compliance at every stage. From document verification to final issuance, our experts simplify the complexities of PAN and TAN registration, saving you time and effort.
Non-compliance Issues to Avoid
Failure to comply with PAN and TAN-related regulations can result in severe penalties, legal complications, and disruption of financial operations. Below are the key non-compliance issues and associated penalties to be aware of.
Penalties for Non-Compliance with PAN Regulations
- Non-quoting or incorrect quoting of PAN in specified transactions attracts a penalty of ₹10,000 under Section 272B.
- Failure to link PAN with Aadhaar before the prescribed deadline results in deactivation of PAN and a late fee of ₹1,000 under Section 234H.
- Using multiple or duplicate PAN cards can lead to fines and legal consequences under the Income Tax Act.
Penalties for Non-Compliance with TAN Regulations
- Failure to apply for TAN when required attracts a penalty of ₹10,000 under Section 272BB.
- Non-filing or late filing of TDS/TCS returns leads to a late fee of ₹200 per day under Section 234E, capped at the amount of TDS/TCS.
- Incorrect or non-deduction of TDS results in penalties equal to the amount not deducted under Section 201.
- Delays in depositing TDS/TCS can incur interest at 1% to 1.5% per month, depending on the nature of the delay.
Other Legal and Operational Consequences
- Inability to conduct high-value financial transactions due to an inactive or deactivated PAN.
- Disqualification from government tenders or contracts requiring valid TAN for TDS compliance.
- Audit risks and notices from the Income Tax Department for non-compliance with PAN/TAN-related provisions.
Conclusion
Getting your PAN, TAN registration is not just a legal obligation that you have to fulfil, but a way for you towards efficient financial management and tax compliance. Whether you are an individual, a startup, or an established enterprise, ensuring that your PAN and TAN are correctly registered and updated can save you from potential penalties, legal complications, and operational disruptions.
At Benchmark, we simplify your PAN and TAN registration process with our expert-driven, hassle-free services. From advisory and documentation to application and post-registration support, we are your trusted partner in achieving compliance and streamlining your financial operations.
Get in Touch
Take the first step toward effortless tax compliance today! Contact Benchmark for PAN and TAN registration services that are accurate, reliable, and tailored to your needs.
FAQs
Who needs to apply for a PAN?
Any individual, company, or entity engaging in taxable financial transactions, filing income tax returns, or investing in financial instruments needs a PAN. Foreign nationals and companies conducting business in India are also required to obtain a PAN. It is mandatory for transactions exceeding specified thresholds, such as property purchases or investments.
Is it mandatory for all businesses to have a TAN?
TAN is mandatory for all businesses or entities that are required to deduct or collect tax at the source under the provisions of the Income Tax Act, 1961. This includes employers deducting TDS from salaries, businesses making specific payments requiring TDS, and entities collecting tax at the source. Non-compliance can result in hefty penalties.
How long does it take to obtain a PAN or TAN?
The typical processing time for PAN or TAN applications is around 15 business days after successful submission of the application and documents. However, e-PANs can often be generated within 48 hours if applied online with Aadhaar-based verification. The timeline may vary depending on the accuracy of the submitted documents and any additional verification required.
What happens if I lose my PAN or TAN?
If your PAN or TAN is lost, you can apply for a reprint or duplicate through the respective online portals. The process involves submitting the necessary identification documents and a small re-issuance fee. The reissued PAN or TAN will have the same number as the original.
Is Aadhaar mandatory for PAN registration?
Yes, linking Aadhaar with PAN has been made mandatory by the Government of India. Aadhaar is often used for online PAN applications, enabling instant verification and faster processing. Non-linkage may lead to deactivation of the PAN and attract a penalty as per the Income Tax Act.