Home |Tax returns filing | What is the difference between PAN and TAN?

What is the difference between PAN and TAN?

Answer Notify Me - 1 Notifying - 2



Jeevika Jeevika
Answered on January 02,2020

PAN stands for Permanent Account Number and TAN stands for Tax Deduction Account Number. TAN is to be obtained by the person responsible to deduct tax, i.e., the deductor. In all the documents relating to TDS and all the correspondence with the Income-tax Department relating to TDS one has to quote his TAN.
PAN cannot be used for TAN, hence, the deductor has to obtain TAN, even if he holds PAN.
However, in case of TDS on purchase of land and building (as per section 194-IA) as discussed in previous FAQ, the deductor is not required to obtain TAN and can use PAN for remitting the TDS.
Further in case of TDS on rent (as per section 194-IB) and TDS on payment of certain sums by Individuals of HUFs (as per section 194M), the deductor can use PAN instead of TAN for remiiting TD.

Clap Clap 3
Share Share Answer Share Share
Views 43 views
tesz.in
Hey , can you help?
Answer this question

    • Related Questions