Home |Tax Identification Number | What is the difference between TIN and PAN ?

What is the difference between TIN and PAN ?

Answer Answer Notify Me - 1 Notifying - 2



Mehr Mehr
Answered on December 29,2017

Taxpayer Identification Number or TIN is the registration number assigned to business enterprises and organizations. It is a eleven digit number to be quoted in all tax and business related transactions and for its further correspondence. Just like how PAN or Permanent Account Number is a number assigned to taxpaying individuals, Tax Identification Number is a number allotted to business enterprises in order to track their transactions. Tax Identification Number is necessary for all organizations and business entities who have registered under Value Added Tax for conducting business, that is the sale of goods and services. Basically, if they are liable to pay tax and have exceeded the specified threshold limits, they have to apply for a VAT registration, and then they will be given a Tax Identification Number. It is mandatory for manufacturers, dealers, exporters, traders to have a Tax Identification Number.

Clap Clap 547
Share Share Answer Share Share
Views 1319 views
tesz.in
Hey, can you help?
Answer this question Answer this question

Related Questions

Try to help us answer..
Top contributors this week

User Pic
James Joseph Adhikarathil
Former Deputy Collector, Alappuzha

User Pic
Ishita Ramani

User Pic
Subin VR
Chartered Accountant,FCA, DISA (ICAI)

User Pic
Tahsildar, Kurnool District, AP / Govind Singh R

User Pic
Team Digilocker
Ministry of Electronics & IT (MeitY)
More
Best Practices while applying for Government services online

1. Check whether you are eligible to apply for this service.

2. Check the documents required for application before applying.

3. Keep the documents in one folder for ease of access.

4. In case of any doubts, check whether the queries are already answered. You can check the FAQ section of the department website or use platforms like Tesz for this purpose.

5. Once you have applied, note down the application number to track the status.

6. Check the time required for the completion of the service. If the service is not completed within the due time, track the status online or reach out to the department.