Instructions for Filing Form 49B for TAN Application By Vikram Shah - October 3, 2019 Last Updated at: Oct 06, 2020 7027 Instructions for Filing Form 49B for TAN Application With effect from 1st July, the government has launched a new Udyam Registration portal to improve the ease of doing business for new MSMEs. This new portal has integrated useful services (including an application for PAN & TAN) with the MCA incorporation portal. To improve the ease of doing business for new MSMEs, the government has launched a new Udyam Registration portal with effect from 1st July, 2020. This new portal has integrated useful services (including application for PAN & TAN) with the MCA company incorporation portal. To improve ease of doing business for new MSMEs, the government has launched a new Udyam Registration portal with effect from 1st July. This new portal has integrated useful services (including application for PAN & TAN) with the MCA incorporation portal. In March, 2020, the MCA (Ministry of Corporate Affairs) has introduced 2 new forms, namely ‘Agile Pro’ and Spice Plus’ to speed up the company registration process. These forms will provide fast and easy access to 10 key services including TAN, GST registration and PAN. TAN, is a unique identification number that functions the same way PAN does. It is handed out to every Indian taxpayer and is a must to file TDS and TCS returns. Tax Deduction and Collection Amount Number is a 10-digit alphanumeric entity that is consigned to all organisations or bodies which handle tax filings and collection on account of the Income Tax administration. Form 49B is used to apply for a TAN number and is an important document that every taxpayer who pays TDS must know about. Have doubts regarding how to fill Form 49B? Fret not, because this article will tell you everything you need to know about filing Form 49B. Importance of Form 49B As per Section 203A of the Income Tax Act, 1961, Form 49B is a mandatory document that needs to be submitted if an individual is to obtain their TAN number. Individuals who do not possess a TAN, yet deduct TDS, are liable to be fined Rs 10,000. Hence, knowing how to fill this form correctly is of the utmost importance. Another reason why this form is so imperative is that banks have the power to refuse fulfilment of transactions if the payee does not have a TAN. Start Your Own Business Applying for TAN Here’s a look at the essential things you need to consider before applying for TAN. You need to file an application using Form 49B. The application must be made at a facilitation centre near your vicinity. People may either visit the Income Tax Department or submit the form online through the IT department’s website. While applying through the IT department, other documents will not be necessary. But, in the case of the online application, the acknowledgement slip must be sent to the Department. Go to https://tin.tin.nsdl.com/tan/ Go to ‘Apply for New TAN’. Choose ‘Online Application’. From the drop-down list, opt for ‘Category of Deductors’. Form 49B will now show up. Fill the form, double-check the details, and submit by clicking on the ‘Confirm’ button. Note down the 14-digit number displayed. Print the acknowledgement form and self-attest it. Send the slip to the NSDL HQ. Fields in Form 49B Name of the office Address of the office- Street/Area/Block/Town/State/Pincode Type Designation of tax payee Company division Branch of the company branch Type of TAN Nationality of deductor. PAN details Existing TAN number if applicable Date of submission Assessing officer details Documents Required Printout of acknowledgement receipt from NSDL website if you have submitted Form 49B online. For physical submission of the form, no other documents are required. Fee For new applications, the fees are Rs. 65. If your application gets rejected due to discrepancies, you are not liable to get refunded. Payment may be made via: Cheque- in favour of NSDL-TIN(Any HDFC Branch excluding Dahej) DD- in favour of NSDL-TIN(payable at Mumbai) Credit/ Debit card Netbanking facility Payments may be made by: Individual Proprietor For a Hindu Undivided Family, the Karta of the unit Director of the company applying Any Partner of the LLP Any authorised person for a Trust or Body of Individuals Instructions for Filing Form 49B Blank sections are not permitted. Hence, the entire Form 49B must be duly filled. Tax payee must provide all his details without fail. Ensure the address provided in the Form is an Indian address. Entire form must be filled in BLOCK LETTERS in English. There must only be one character in each box for better clarity. If you have used your left thumbprint, it needs to be verified, sealed and signed by a Magistrate/ Notary/ Gazetted Officer. Deductors must supply details such as Range Code, Area code and AO Number from their respective TIN Facilitation Centre or IT Department Office. The processing fee must be paid to the corresponding TIN-Facilitation Centres. People who already have a TAN must not reapply, as that is illegal. But different branches of a company may opt for different TANS and can hence apply through Form 49B. To update your information, use the Form for changes or corrections. The 14 digit code you receive as soon as you submit your application can be used to track the progress of your application. Only individuals can attest via thumb impression. All other applicants must sign the acknowledgement slip.